Marvell Technology, Inc. (NASDAQ:MRVL) Receives $91.62 Average Target Price from Brokerages

Shares of Marvell Technology, Inc. (NASDAQ:MRVLGet Free Report) have been given an average rating of “Buy” by the twenty-two research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, twenty have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $91.62.

A number of equities research analysts have recently commented on MRVL shares. Piper Sandler reaffirmed an “overweight” rating and issued a $100.00 target price on shares of Marvell Technology in a 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. Evercore ISI boosted their target price on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, August 30th. The Goldman Sachs Group increased their price target on Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Citigroup reissued a “buy” rating and issued a $91.00 price objective on shares of Marvell Technology in a research note on Monday, October 14th.

Check Out Our Latest Stock Analysis on Marvell Technology

Insider Transactions at Marvell Technology

In related news, CEO Matthew J. Murphy sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $73.29, for a total value of $439,740.00. Following the sale, the chief executive officer now owns 208,915 shares of the company’s stock, valued at approximately $15,311,380.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Matthew J. Murphy sold 6,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.29, for a total value of $439,740.00. Following the completion of the transaction, the chief executive officer now owns 208,915 shares of the company’s stock, valued at approximately $15,311,380.35. The trade was a 0.00 % decrease in their position. The sale 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 firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the sale, the insider now directly owns 694,487 shares in the company, valued at $55,906,203.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 261,000 shares of company stock valued at $20,330,835 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Salomon & Ludwin LLC acquired a new position in Marvell Technology in the first quarter valued at $31,000. Strategic Investment Solutions Inc. IL purchased a new stake in Marvell Technology in the 2nd quarter valued at about $32,000. Quarry LP acquired a new position in shares of Marvell Technology during the 2nd quarter valued at about $32,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Marvell Technology during the 1st quarter worth about $35,000. Finally, Whittier Trust Co. boosted its position in shares of Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Down 0.4 %

Shares of NASDAQ MRVL opened at $81.61 on Tuesday. The business has a 50-day moving average price of $73.67 and a 200 day moving average price of $70.55. The stock has a market cap of $72.32 billion, a PE ratio of -73.52, a price-to-earnings-growth ratio of 3.62 and a beta of 1.45. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. Marvell Technology has a 52-week low of $46.07 and a 52-week high of $85.76.

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

Marvell Technology Announces Dividend

The firm also recently declared 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. This represents a $0.24 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.62%.

About Marvell Technology

(Get Free Report

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.

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Analyst Recommendations for Marvell Technology (NASDAQ:MRVL)

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