Marvell Technology (NASDAQ:MRVL) Rating Reiterated by Roth Mkm

Roth Mkm reiterated their buy rating on shares of Marvell Technology (NASDAQ:MRVL - Free Report) in a report issued on Friday morning, Benzinga reports. The brokerage currently has a $95.00 price objective on the semiconductor company's stock.

Several other equities research analysts also recently weighed in on MRVL. KeyCorp cut their price target on Marvell Technology from $95.00 to $90.00 and set an overweight rating on the stock in a report on Monday. Stifel Nicolaus restated a buy rating and set a $86.00 price target on shares of Marvell Technology in a report on Friday. Raymond James upped their price target on Marvell Technology from $62.00 to $78.00 and gave the stock an outperform rating in a report on Friday, January 19th. Morgan Stanley upped their price target on Marvell Technology from $63.00 to $84.00 and gave the stock an equal weight rating in a report on Thursday, March 7th. Finally, Barclays upped their price target on Marvell Technology from $70.00 to $75.00 and gave the stock an overweight rating in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, Marvell Technology presently has a consensus rating of Moderate Buy and a consensus target price of $79.96.

Marvell Technology Trading Down 1.9 %

Shares of MRVL stock traded down $1.37 on Friday, hitting $70.16. The stock had a trading volume of 14,249,344 shares, compared to its average volume of 14,410,831. 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 firm has a market capitalization of $60.76 billion, a P/E ratio of -64.96, a P/E/G ratio of 5.22 and a beta of 1.50. Marvell Technology has a 1 year low of $36.90 and a 1 year high of $85.76. The company's 50 day moving average price is $70.38 and its 200-day moving average price is $61.76.

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 (EPS) for the quarter, meeting the consensus estimate of $0.46. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The company's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 EPS. Analysts anticipate that Marvell Technology will post 0.72 earnings per share for the current year.

Marvell Technology announced that its Board of Directors has initiated a share repurchase plan on Thursday, March 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 4.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 12th will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. Marvell Technology's dividend payout ratio (DPR) is presently -22.22%.

Insiders Place Their Bets

In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $65.59, for a total value of $1,967,700.00. Following the transaction, the chief executive officer now directly owns 792,929 shares in the company, valued at approximately $52,008,213.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $65.59, for a total value of $1,967,700.00. Following the transaction, the chief executive officer now directly owns 792,929 shares in the company, valued at approximately $52,008,213.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $65.26, for a total value of $326,300.00. Following the completion of the transaction, the executive vice president now owns 124,117 shares in the company, valued at $8,099,875.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,000 shares of company stock valued at $7,188,790. 0.45% of the stock is owned by company insiders.

Institutional Trading of Marvell Technology

Several hedge funds have recently modified their holdings of MRVL. Buck Wealth Strategies LLC lifted its holdings in shares of Marvell Technology by 1,328.1% in the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company's stock valued at $25,000 after buying an additional 425 shares during the period. SRS Capital Advisors Inc. lifted its holdings in shares of Marvell Technology by 216.2% in the 2nd quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company's stock valued at $25,000 after buying an additional 281 shares during the period. SJS Investment Consulting Inc. lifted its holdings in shares of Marvell Technology by 56.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company's stock valued at $26,000 after buying an additional 155 shares during the period. Bruce G. Allen Investments LLC lifted its holdings in shares of Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company's stock valued at $28,000 after buying an additional 141 shares during the period. Finally, Resurgent Financial Advisors LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $28,000. 83.51% of the stock is owned by institutional investors and hedge funds.

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.