Marvell Technology, Inc. (NASDAQ:MRVL) Plans Quarterly Dividend of $0.06

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) declared a quarterly dividend on Friday, June 13th, RTT News reports. Stockholders of record on Friday, July 11th will be paid a dividend of 0.06 per share by the semiconductor company on Thursday, July 31st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.36%.

Marvell Technology has a payout ratio of 6.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Marvell Technology to earn $2.00 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 12.0%.

Marvell Technology Price Performance

Shares of MRVL stock traded down $2.45 during mid-day trading on Friday, reaching $67.19. The company's stock had a trading volume of 14,146,733 shares, compared to its average volume of 14,765,209. Marvell Technology has a 1-year low of $47.09 and a 1-year high of $127.48. The company has a market cap of $58.04 billion, a P/E ratio of -39.52, a PEG ratio of 1.61 and a beta of 1.76. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm's 50-day moving average is $60.30 and its two-hundred day moving average is $85.17.

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

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $685,300.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $412,980.00. Following the completion of the transaction, the chief operating officer now directly owns 81,931 shares in the company, valued at approximately $5,639,310.73. The trade was a 6.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,541 shares of company stock worth $2,079,948 in the last ninety days. Company insiders own 0.19% of the company's stock.

Institutional Trading of Marvell Technology

A hedge fund recently raised its stake in Marvell Technology stock. Intech Investment Management LLC boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 3.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,784 shares of the semiconductor company's stock after acquiring an additional 1,085 shares during the quarter. Intech Investment Management LLC's holdings in Marvell Technology were worth $1,772,000 at the end of the most recent reporting period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MRVL shares. Cantor Fitzgerald reiterated a "neutral" rating and set a $60.00 target price on shares of Marvell Technology in a research report on Friday, May 30th. KeyCorp dropped their target price on shares of Marvell Technology from $115.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Summit Insights cut shares of Marvell Technology from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Wells Fargo & Company dropped their target price on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Finally, Melius cut shares of Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 target price for the company. in a research report on Thursday, May 22nd. Seven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Marvell Technology presently has an average rating of "Moderate Buy" and a consensus target price of $94.73.

About Marvell Technology

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.