Marvell Technology (NASDAQ:MRVL) Given "Buy" Rating at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Marvell Technology (NASDAQ:MRVL - Free Report) in a report published on Friday morning,Benzinga reports. They currently have a $124.00 target price on the semiconductor company's stock.

A number of other research firms also recently issued reports on MRVL. Melius downgraded Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price target on the stock. in a research note on Thursday, May 22nd. Susquehanna lowered their price objective on shares of Marvell Technology from $110.00 to $90.00 and set a "positive" rating on the stock in a research note on Tuesday, May 27th. UBS Group cut their target price on shares of Marvell Technology from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Monday, May 19th. William Blair raised shares of Marvell Technology to a "strong-buy" rating in a report on Wednesday, February 5th. Finally, Barclays reduced their target price on shares of Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $94.21.

Marvell Technology Stock Performance

NASDAQ MRVL traded up $1.48 during trading hours on Friday, hitting $61.67. The company's stock had a trading volume of 9,794,493 shares, compared to its average volume of 14,433,005. Marvell Technology has a 12 month low of $47.09 and a 12 month high of $127.48. The company's 50 day simple moving average is $58.72 and its two-hundred day simple moving average is $86.81. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company has a market cap of $53.27 billion, a P/E ratio of -36.31, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the business posted $0.24 earnings per share. The business's revenue for the quarter was up 63.3% on a year-over-year basis. As a group, sell-side analysts expect that Marvell Technology will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.39%. Marvell Technology's payout ratio is currently -42.11%.

Insider Transactions at Marvell Technology

In other Marvell Technology news, Director Brad W. Buss purchased 3,000 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the transaction, the director now owns 87,113 shares of the company's stock, valued at $6,010,797. The trade was a 3.57% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $103,245.00. Following the completion of the sale, the chief financial officer now owns 113,592 shares of the company's stock, valued at approximately $7,818,537.36. The trade was a 1.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,541 shares of company stock valued at $2,079,948 over the last ninety days. Insiders own 0.19% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vista Cima Wealth Management LLC acquired a new stake in Marvell Technology in the first quarter valued at approximately $345,000. Silicon Valley Capital Partners grew its stake in shares of Marvell Technology by 1.7% during the first quarter. Silicon Valley Capital Partners now owns 33,571 shares of the semiconductor company's stock worth $2,083,000 after purchasing an additional 569 shares in the last quarter. Strs Ohio acquired a new position in shares of Marvell Technology during the first quarter worth $16,366,000. Addison Capital Co increased its holdings in Marvell Technology by 29.5% in the first quarter. Addison Capital Co now owns 5,515 shares of the semiconductor company's stock valued at $340,000 after buying an additional 1,257 shares during the last quarter. Finally, Advisors Capital Management LLC raised its stake in Marvell Technology by 6.2% in the first quarter. Advisors Capital Management LLC now owns 8,770 shares of the semiconductor company's stock valued at $540,000 after buying an additional 515 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

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.