Marvell Technology (NASDAQ:MRVL) Trading Up 0.5%

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price was up 0.5% during trading on Tuesday . The company traded as high as $74.23 and last traded at $73.77. Approximately 1,686,694 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 12,514,788 shares. The stock had previously closed at $73.40.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Monday. Roth Mkm reiterated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Morgan Stanley boosted their price target on Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. Barclays increased their price objective on Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Finally, The Goldman Sachs Group boosted their target price on Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a report on Friday, August 30th. Two analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $91.62.

Marvell Technology Price Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The stock has a market capitalization of $64.82 billion, a PE ratio of -66.71, a P/E/G ratio of 3.29 and a beta of 1.46. The company’s fifty day simple moving average is $68.14 and its two-hundred day simple moving average is $69.78.

Marvell Technology (NASDAQ:MRVL) last issued 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 positive return on equity of 4.31% and a negative net margin of 18.30%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the firm posted $0.18 EPS. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. As a group, sell-side analysts predict that Marvell Technology, Inc. will post 0.77 EPS for the current year.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.32%. Marvell Technology’s dividend payout ratio (DPR) is -21.24%.

Insider Transactions at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $73.88, for a total transaction of $369,400.00. Following the transaction, the executive vice president now owns 110,318 shares of the company’s stock, valued at approximately $8,150,293.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’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 sale, the chief financial officer now directly owns 111,753 shares in the company, valued at $8,255,194.11. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $73.88, for a total transaction of $369,400.00. Following the transaction, the executive vice president now directly owns 110,318 shares of the company’s stock, valued at approximately $8,150,293.84. The disclosure for this sale can be found here. Insiders sold a total of 160,000 shares of company stock worth $11,878,785 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Marvell Technology

A number of institutional investors and hedge funds have recently made changes to their positions in MRVL. Tlwm grew its position in Marvell Technology by 1.6% during the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock valued at $601,000 after acquiring an additional 136 shares during the period. Bruce G. Allen Investments LLC grew its holdings in shares of Marvell Technology by 56.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 141 shares during the period. Trueblood Wealth Management LLC grew its holdings in shares of Marvell Technology by 3.2% during the 1st quarter. Trueblood Wealth Management LLC now owns 4,944 shares of the semiconductor company’s stock worth $350,000 after purchasing an additional 152 shares during the period. Edmond DE Rothschild Holding S.A. increased its position in Marvell Technology by 0.5% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 30,764 shares of the semiconductor company’s stock worth $1,855,000 after purchasing an additional 162 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC raised its holdings in Marvell Technology by 0.4% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock valued at $3,143,000 after buying an additional 168 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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.