Marvell Technology, Inc. (NASDAQ:MRVL) Receives $91.77 Consensus Target Price from Analysts

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) have been assigned an average rating of “Moderate Buy” from the twenty-three brokerages that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $91.77.

A number of equities analysts have recently commented on the stock. Loop Capital initiated coverage on shares of Marvell Technology in a research report on Monday, November 11th. They issued a “hold” rating and a $95.00 price objective for the company. Citigroup reaffirmed a “buy” rating and issued a $91.00 target price on shares of Marvell Technology in a research note on Monday, October 14th. Roth Mkm reissued a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. Bank of America lifted their price target on Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Barclays lifted their price target on shares of Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th.

Insider Buying and Selling at Marvell Technology

In other news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total value of $177,075.00. Following the completion of the sale, the executive vice president now owns 22,494 shares in the company, valued at approximately $1,593,250.02. The trade was a 10.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the sale, the insider now owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. This represents a 17.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 267,000 shares of company stock worth $20,899,260 over the last 90 days. 0.33% of the stock is owned by insiders.

Institutional Trading of Marvell Technology

Several hedge funds have recently modified their holdings of the company. True Wealth Design LLC raised its stake in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Marvell Technology during the 2nd quarter worth $32,000. Quarry LP acquired a new stake in Marvell Technology in the second quarter worth about $32,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Marvell Technology in the 1st quarter valued at approximately $35,000. Finally, Whittier Trust Co. increased its stake in Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Stock Performance

Shares of MRVL opened at $88.71 on Friday. The stock has a 50 day moving average of $79.28 and a 200 day moving average of $72.96. The company has a market capitalization of $78.61 billion, a price-to-earnings ratio of -79.92, a PEG ratio of 3.82 and a beta of 1.44. Marvell Technology has a 12 month low of $50.35 and a 12 month high of $95.09. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last released its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. As a group, sell-side analysts forecast that Marvell Technology will post 0.78 earnings per share for the current year.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were given a $0.06 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.27%. Marvell Technology’s dividend payout ratio is currently -21.62%.

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.