Marvell Technology (MRVL) to Release Quarterly Earnings on Tuesday

Marvell Technology (NASDAQ:MRVL) is set to issue its quarterly earnings data after the market closes on Tuesday, December 3rd. Analysts expect the company to announce earnings of $0.40 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the company earned $0.18 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, analysts expect Marvell Technology to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Marvell Technology Stock Up 2.9 %

Marvell Technology stock opened at $92.69 on Friday. The stock has a market cap of $82.14 billion, a PE ratio of -83.50, a P/E/G ratio of 3.92 and a beta of 1.44. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The stock’s fifty day moving average is $82.50 and its two-hundred day moving average is $74.32. Marvell Technology has a 1-year low of $50.35 and a 1-year high of $95.55.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.62%.

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the sale, the executive vice president now owns 103,244 shares of the company’s stock, valued at $9,203,170.16. The trade was a 5.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $73.87, for a total value of $110,805.00. Following the completion of the transaction, the chief financial officer now directly owns 111,753 shares of the company’s stock, valued at $8,255,194.11. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,000 shares of company stock worth $20,899,260 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Rosenblatt Securities raised their price objective on shares of Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 30th. 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. Susquehanna upped their price objective on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “positive” rating in a research note on Wednesday. Citigroup reiterated a “buy” rating and set a $91.00 target price on shares of Marvell Technology in a research report on Monday, October 14th. Finally, Wells Fargo & Company boosted their target price on Marvell Technology from $90.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and an average target price of $95.39.

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.