Loop Capital Has Lowered Expectations for Marvell Technology (NASDAQ:MRVL) Stock Price

Marvell Technology (NASDAQ:MRVL - Free Report) had its price objective decreased by Loop Capital from $110.00 to $90.00 in a research note published on Friday, Marketbeat reports. Loop Capital currently has a buy rating on the semiconductor company's stock.

MRVL has been the subject of a number of other reports. Benchmark restated a "buy" rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday. Roth Capital set a $100.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Citigroup dropped their price target on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Rosenblatt Securities reiterated a "buy" rating and set a $124.00 price objective on shares of Marvell Technology in a research report on Friday. Finally, Melius Research downgraded shares of Marvell Technology from a "strong-buy" rating to a "hold" rating and set a $66.00 target price for the company. in a research note on Thursday, May 22nd. Seven research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Marvell Technology has a consensus rating of "Moderate Buy" and an average price target of $94.21.

Marvell Technology Trading Up 2.1%

NASDAQ MRVL traded up $1.28 on Friday, hitting $61.47. The company's stock had a trading volume of 17,758,029 shares, compared to its average volume of 14,463,723. The company's 50-day moving average is $58.72 and its 200 day moving average is $86.81. The firm has a market cap of $53.10 billion, a PE ratio of -36.16, a PEG ratio of 1.61 and a beta of 1.83. Marvell Technology has a 1-year low of $47.09 and a 1-year high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. Marvell Technology had a positive return on equity of 4.59% and a negative net margin of 27.49%. Marvell Technology's quarterly revenue was up 63.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 earnings per share. As a group, analysts predict that Marvell Technology will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were issued 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 0.39%. Marvell Technology's dividend payout ratio (DPR) is currently -42.11%.

Insiders Place Their Bets

In other news, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares of the company's stock, valued at approximately $2,138,125. The trade was a 4.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,541 shares of company stock valued at $2,079,948. Insiders own 0.19% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Centricity Wealth Management LLC bought a new position in Marvell Technology during the fourth quarter valued at $26,000. Rialto Wealth Management LLC purchased a new position in shares of Marvell Technology during the 4th quarter valued at $27,000. Financial Life Planners purchased a new position in shares of Marvell Technology during the 4th quarter valued at $33,000. Lee Danner & Bass Inc. purchased a new stake in Marvell Technology in the 4th quarter worth about $35,000. Finally, Capital Analysts LLC raised its stake in Marvell Technology by 236.3% in the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 241 shares during the period. 83.51% of the stock is owned by institutional investors.

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.