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

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the thirty-one analysts that are currently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation, twenty-four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $94.73.

MRVL has been the subject of a number of research reports. Citigroup reduced their target price on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a report on Friday, April 11th. Melius Research cut Marvell Technology from a "strong-buy" rating to a "hold" rating and set a $66.00 price objective for the company. in a research report on Thursday, May 22nd. China Renaissance assumed coverage on Marvell Technology in a report on Thursday. They issued a "buy" rating and a $110.00 target price on the stock. KeyCorp decreased their price target on Marvell Technology from $115.00 to $90.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Finally, Needham & Company LLC lowered their price objective on shares of Marvell Technology from $100.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, May 30th.

Insiders Place Their Bets

In related news, EVP Mark Casper sold 626 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $61.10, for a total value of $38,248.60. Following the completion of the transaction, the executive vice president now owns 626 shares of the company's stock, valued at approximately $38,248.60. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the sale, the chief accounting officer now owns 31,100 shares of the company's stock, valued at approximately $2,138,125. This trade represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,541 shares of company stock valued at $2,079,948. Corporate insiders own 0.19% of the company's stock.

Institutional Inflows and Outflows

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

Marvell Technology Stock Down 1.7%

Shares of NASDAQ MRVL traded down $1.14 during mid-day trading on Wednesday, reaching $65.16. The company had a trading volume of 23,012,579 shares, compared to its average volume of 14,575,351. The firm has a 50 day simple moving average of $58.64 and a two-hundred day simple moving average of $86.32. 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. The stock has a market cap of $56.29 billion, a P/E ratio of -38.33, a PEG ratio of 1.61 and a beta of 1.83.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Marvell Technology's revenue for the quarter was up 63.3% on a year-over-year basis. Sell-side analysts predict that Marvell Technology will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend was Friday, April 11th. 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.