Marvell Technology, Inc. (NASDAQ:MRVL) Given Consensus Rating of "Moderate Buy" by Brokerages

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the thirty-one brokerages that are currently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation, twenty-four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $96.33.

Several equities analysts recently commented on MRVL shares. Piper Sandler reissued an "overweight" rating and issued a $85.00 target price (down previously from $95.00) on shares of Marvell Technology in a report on Friday, May 30th. Deutsche Bank Aktiengesellschaft dropped their price objective on Marvell Technology from $100.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, May 30th. KeyCorp dropped their price objective on Marvell Technology from $115.00 to $90.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. China Renaissance started coverage on Marvell Technology in a report on Thursday, June 5th. They set a "buy" rating and a $110.00 price objective on the stock. Finally, Citigroup dropped their price objective on Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, April 11th.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 12,460 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $68.52, for a total transaction of $102,780.00. Following the completion of the transaction, the chief financial officer now directly owns 121,348 shares of the company's stock, valued at approximately $8,314,764.96. This trade represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,394 shares of company stock valued at $1,656,076. Corporate insiders own 0.19% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Intrepid Financial Planning Group LLC increased its stake in shares of Marvell Technology by 0.3% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock worth $2,860,000 after purchasing an additional 90 shares in the last quarter. PDS Planning Inc increased its stake in shares of Marvell Technology by 3.3% during the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock worth $319,000 after purchasing an additional 92 shares in the last quarter. Private Trust Co. NA boosted its position in Marvell Technology by 2.7% during the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock worth $414,000 after acquiring an additional 97 shares during the last quarter. Tradewinds LLC. boosted its position in Marvell Technology by 0.7% during the fourth quarter. Tradewinds LLC. now owns 14,050 shares of the semiconductor company's stock worth $1,552,000 after acquiring an additional 101 shares during the last quarter. Finally, SRS Capital Advisors Inc. boosted its position in Marvell Technology by 19.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 693 shares of the semiconductor company's stock worth $77,000 after acquiring an additional 112 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Stock Down 3.5%

Marvell Technology stock opened at $77.16 on Friday. Marvell Technology has a twelve month low of $47.09 and a twelve month high of $127.48. The stock's fifty day simple moving average is $64.38 and its 200-day simple moving average is $83.06. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $66.65 billion, a P/E ratio of -135.37, a P/E/G ratio of 0.84 and a beta of 1.76.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. Marvell Technology's revenue for the quarter was up 63.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 earnings per share. As a group, equities analysts expect that Marvell Technology will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be issued a $0.06 dividend. The ex-dividend date is Friday, July 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.31%. Marvell Technology's dividend payout ratio (DPR) is presently -42.11%.

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.

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