Marvell Technology (NASDAQ:MRVL) Trading Up 1.5% - What's Next?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report)'s share price was up 1.5% during trading on Wednesday . The company traded as high as $70.24 and last traded at $69.87. Approximately 4,393,101 shares were traded during trading, a decline of 70% from the average daily volume of 14,668,217 shares. The stock had previously closed at $68.84.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MRVL shares. Redburn Atlantic initiated coverage on Marvell Technology in a research note on Wednesday, May 28th. They set a "neutral" rating and a $67.00 price target for the company. Loop Capital decreased their price objective on Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Stifel Nicolaus decreased their price objective on Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. UBS Group restated a "buy" rating on shares of Marvell Technology in a research report on Monday, June 2nd. Finally, Piper Sandler restated an "overweight" rating and set a $85.00 price objective (down from $95.00) on shares of Marvell Technology in a research report on Friday, May 30th. Seven 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.73.

Marvell Technology Price Performance

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 $60.16 billion, a price-to-earnings ratio of -40.96, a PEG ratio of 1.61 and a beta of 1.76. The stock has a 50-day moving average price of $59.59 and a two-hundred day moving average price of $85.54.

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, topping analysts' consensus estimates 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 4.59% and a negative net margin of 27.49%. The business's quarterly revenue was up 63.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. As a group, equities research analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were given a $0.06 dividend. The ex-dividend date was Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. Marvell Technology's payout ratio is -42.11%.

Insider Transactions at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $412,980.00. Following the completion of the sale, the chief operating officer now owns 81,931 shares of the company's stock, valued at approximately $5,639,310.73. The trade was a 6.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. Insiders sold 33,541 shares of company stock valued at $2,079,948 in the last quarter. 0.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Marvell Technology

Institutional investors have recently modified their holdings of the stock. Centricity Wealth Management LLC purchased a new position in shares of Marvell Technology during the 4th quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new position in shares of Marvell Technology in the 4th quarter valued at about $27,000. Lee Danner & Bass Inc. purchased a new position in shares of Marvell Technology in the 4th quarter valued at about $35,000. Capital Analysts LLC increased its stake in shares of 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 purchasing an additional 241 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new position in shares of Marvell Technology in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 83.51% of the company's stock.

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.