Marvell Technology, Inc. (NASDAQ:MRVL) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the thirty-one analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $94.47.

MRVL has been the subject of several research analyst reports. Susquehanna lowered their target price on Marvell Technology from $110.00 to $90.00 and set a "positive" rating for the company in a research note on Tuesday, May 27th. KeyCorp lowered their price target on shares of Marvell Technology from $115.00 to $90.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Morgan Stanley upped their price objective on Marvell Technology from $70.00 to $73.00 and gave the company an "equal weight" rating in a research note on Friday, May 30th. Wall Street Zen downgraded Marvell Technology from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Needham & Company LLC cut shares of Marvell Technology from a "buy" rating to a "cautious" rating in a research report on Wednesday, July 16th.

Insider Activity at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $65.10, for a total value of $390,600.00. Following the sale, the chief operating officer directly owned 92,065 shares in the company, valued at $5,993,431.50. The trade was a 6.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Panteha Dixon sold 1,283 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $68.50, for a total value of $87,885.50. Following the completion of the sale, the chief accounting officer owned 29,572 shares in the company, valued at $2,025,682. This represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,934 shares of company stock worth $1,187,826. Company insiders own 0.19% of the company's stock.

Institutional Trading of Marvell Technology

Several hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Marvell Technology in the fourth quarter worth about $1,138,354,000. Nuveen Asset Management LLC lifted its holdings in shares of Marvell Technology by 232.2% in the fourth quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company's stock worth $1,033,859,000 after buying an additional 6,543,132 shares in the last quarter. Nuveen LLC purchased a new stake in Marvell Technology in the 1st quarter worth approximately $399,587,000. Goldman Sachs Group Inc. lifted its stake in Marvell Technology by 32.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock worth $1,272,117,000 after purchasing an additional 5,050,159 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Marvell Technology by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock worth $1,374,252,000 after purchasing an additional 3,747,982 shares in the last quarter. Institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Performance

Marvell Technology stock traded up $0.17 during midday trading on Thursday, hitting $74.21. The company's stock had a trading volume of 9,813,678 shares, compared to its average volume of 16,248,888. Marvell Technology has a 1-year low of $47.08 and a 1-year high of $127.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94. The company has a 50-day moving average price of $69.95 and a two-hundred day moving average price of $77.39. The company has a market cap of $64.10 billion, a price-to-earnings ratio of -130.19, a PEG ratio of 0.80 and a beta of 1.81.

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 for the quarter, beating the consensus estimate of $0.61 by $0.01. The firm had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.88 billion. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The company's quarterly revenue was up 63.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Friday, July 11th. Marvell Technology's dividend payout ratio is -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.