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

Shares of Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twenty-one analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and twenty have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $81.13.

MRVL has been the subject of a number of recent analyst reports. Oppenheimer restated an "outperform" rating and issued a $80.00 price objective (up previously from $70.00) on shares of Marvell Technology in a research report on Thursday, February 29th. Summit Insights upgraded Marvell Technology from a "hold" rating to a "buy" rating in a research note on Friday, March 8th. UBS Group upped their price objective on Marvell Technology from $70.00 to $83.00 and gave the stock a "buy" rating in a report on Monday, February 26th. Cantor Fitzgerald reissued an "overweight" rating and issued a $85.00 target price on shares of Marvell Technology in a report on Friday, April 12th. Finally, Barclays upped their price target on shares of Marvell Technology from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 16th.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL traded down $2.84 during trading on Tuesday, reaching $65.91. The company had a trading volume of 12,777,081 shares, compared to its average volume of 13,910,771. Marvell Technology has a fifty-two week low of $38.63 and a fifty-two week high of $85.76. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.21. The stock's fifty day moving average price is $69.93 and its 200 day moving average price is $62.92. The firm has a market capitalization of $57.08 billion, a price-to-earnings ratio of -61.03, a price-to-earnings-growth ratio of 5.09 and a beta of 1.50.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, meeting analysts' consensus estimates of $0.46. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the firm posted $0.34 EPS. Marvell Technology's quarterly revenue was up .6% on a year-over-year basis. As a group, equities research analysts predict that Marvell Technology will post 0.72 EPS for the current year.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date is Thursday, April 11th. Marvell Technology's dividend payout ratio is presently -22.22%.

Marvell Technology announced that its Board of Directors has initiated a share buyback program on Thursday, March 7th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 4.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Mark Casper sold 2,500 shares of the firm's stock in a transaction on Friday, April 19th. The stock was sold at an average price of $64.75, for a total transaction of $161,875.00. Following the sale, the executive vice president now owns 21,266 shares in the company, valued at $1,376,973.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $66.17, for a total value of $1,985,100.00. Following the transaction, the chief executive officer now owns 732,929 shares in the company, valued at approximately $48,497,911.93. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the business's stock in a transaction on Friday, April 19th. The shares were sold at an average price of $64.75, for a total transaction of $161,875.00. Following the sale, the executive vice president now directly owns 21,266 shares of the company's stock, valued at $1,376,973.50. The disclosure for this sale can be found here. In the last three months, insiders sold 110,500 shares of company stock valued at $7,477,515. Company insiders own 0.45% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MRVL. Simplicity Solutions LLC lifted its stake in shares of Marvell Technology by 2.6% in the 3rd quarter. Simplicity Solutions LLC now owns 11,635 shares of the semiconductor company's stock valued at $630,000 after purchasing an additional 290 shares in the last quarter. Ballentine Partners LLC lifted its position in Marvell Technology by 6.8% during the third quarter. Ballentine Partners LLC now owns 4,983 shares of the semiconductor company's stock valued at $270,000 after buying an additional 319 shares in the last quarter. Valeo Financial Advisors LLC purchased a new stake in Marvell Technology during the third quarter worth approximately $297,000. Linden Thomas Advisory Services LLC acquired a new stake in shares of Marvell Technology in the third quarter worth $492,000. Finally, Commonwealth Equity Services LLC raised its stake in shares of Marvell Technology by 6.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 190,841 shares of the semiconductor company's stock valued at $10,330,000 after acquiring an additional 10,916 shares during the period. 83.51% of the stock is owned by hedge funds and other 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.