Marvell Technology (NASDAQ:MRVL) Trading Down 2.4% - What's Next?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) traded down 2.4% during mid-day trading on Friday . The company traded as low as $77.23 and last traded at $78.09. 9,195,517 shares traded hands during trading, a decline of 40% from the average session volume of 15,383,661 shares. The stock had previously closed at $79.97.

Wall Street Analysts Forecast Growth

MRVL has been the topic of several analyst reports. Raymond James Financial reiterated an "outperform" rating and issued a $90.00 target price (down from $110.00) on shares of Marvell Technology in a report on Friday, May 30th. Wells Fargo & Company lowered their price objective 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. China Renaissance began coverage on Marvell Technology in a report on Thursday, June 5th. They set a "buy" rating and a $110.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and issued a $85.00 target price on shares of Marvell Technology in a research note on Wednesday, June 18th. Finally, KeyCorp lowered 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. Six equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.33.

Marvell Technology Stock Down 3.0%

The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average of $63.87 and a 200-day moving average of $83.46. The firm has a market cap of $66.98 billion, a P/E ratio of -135.78, a price-to-earnings-growth ratio of 0.82 and a beta of 1.76.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The firm'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 firm posted $0.24 EPS. On average, equities research analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

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

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $65.10, for a total transaction of $390,600.00. Following the completion of the transaction, the chief operating officer now owns 92,065 shares in the company, valued at approximately $5,993,431.50. This represents a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,394 shares of company stock valued at $1,656,076 over the last 90 days. 0.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Marvell Technology during the fourth quarter worth approximately $234,000. Dynamic Advisor Solutions LLC grew its holdings in Marvell Technology by 5.0% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company's stock valued at $266,000 after buying an additional 206 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Marvell Technology during the 4th quarter worth $45,211,000. Yousif Capital Management LLC lifted its holdings in shares of Marvell Technology by 8.4% during the first quarter. Yousif Capital Management LLC now owns 15,057 shares of the semiconductor company's stock worth $927,000 after buying an additional 1,164 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in shares of Marvell Technology during the fourth quarter worth $818,000. 83.51% of the stock is owned by institutional investors.

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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