Marvell Technology (NASDAQ:MRVL) Given New $133.00 Price Target at Evercore ISI

Marvell Technology (NASDAQ:MRVL - Free Report) had its target price trimmed by Evercore ISI from $135.00 to $133.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an outperform rating on the semiconductor company's stock.

Several other research analysts have also recently weighed in on the company. Melius cut Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price objective on the stock. in a research report on Thursday, May 22nd. B. Riley lowered their target price on Marvell Technology from $135.00 to $110.00 and set a "buy" rating for the company in a report on Monday, May 19th. Susquehanna decreased their price objective on Marvell Technology from $110.00 to $90.00 and set a "positive" rating for the company in a report on Tuesday. Roth Capital set a $100.00 target price on Marvell Technology in a research report on Thursday, March 6th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $124.00 price objective on shares of Marvell Technology in a research report on Friday. Seven analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $94.21.

Marvell Technology Stock Performance

NASDAQ:MRVL traded down $4.45 during mid-day trading on Friday, hitting $59.28. The stock had a trading volume of 48,266,075 shares, compared to its average volume of 14,540,546. The stock has a market capitalization of $51.21 billion, a price-to-earnings ratio of -34.87, a P/E/G ratio of 1.61 and a beta of 1.83. The company has a 50 day simple moving average of $58.72 and a 200-day simple moving average of $86.86. Marvell Technology has a 52 week low of $47.09 and a 52 week high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. Marvell Technology had a negative net margin of 27.49% and a positive return on equity of 4.59%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the firm posted $0.24 earnings per share. The company's quarterly revenue was up 63.3% compared to the same quarter last year. On average, research analysts expect that Marvell Technology will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.40%. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.

Insiders Place Their Bets

In other news, Director Brad W. Buss acquired 3,000 shares of Marvell Technology stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $69.00 per share, with a total value of $207,000.00. Following the completion of the transaction, the director now owns 87,113 shares in the company, valued at approximately $6,010,797. This trade represents a 3.57% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $412,980.00. Following the transaction, the chief operating officer now directly owns 81,931 shares of the company's stock, valued at $5,639,310.73. This represents a 6.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,541 shares of company stock valued at $2,079,948 in the last quarter. Insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Marvell Technology

Several hedge funds have recently bought and sold shares of MRVL. Vanguard Group Inc. grew its stake in shares of Marvell Technology by 1.9% during the first quarter. Vanguard Group Inc. now owns 63,770,122 shares of the semiconductor company's stock worth $3,926,326,000 after buying an additional 1,212,338 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Marvell Technology by 32.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock valued at $1,272,117,000 after acquiring an additional 5,050,159 shares during the period. Brown Advisory Inc. grew its position in shares of Marvell Technology by 2.2% during the 1st quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company's stock valued at $1,188,333,000 after acquiring an additional 423,892 shares during the period. Invesco Ltd. lifted its stake in shares of Marvell Technology by 30.1% during the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock valued at $1,784,649,000 after buying an additional 3,737,705 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Marvell Technology by 6.9% in the 4th quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company's stock worth $1,462,274,000 after purchasing an additional 857,087 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Company Profile

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.