Marvell Technology, Inc. (NASDAQ:MRVL) Receives Consensus Rating of “Moderate Buy” from Brokerages

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

Several research analysts have recently weighed in on MRVL shares. Evercore ISI upped their price target on shares of Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Morgan Stanley lifted their target price on shares of Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. Benchmark increased their price target on shares of Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Bank of America lifted their price objective on shares of Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, August 30th.

Insider Buying and Selling at Marvell Technology

In related news, CEO Matthew J. Murphy acquired 13,000 shares of Marvell Technology stock in a transaction on Monday, October 14th. The shares were acquired at an average cost of $77.63 per share, with a total value of $1,009,190.00. Following the transaction, the chief executive officer now owns 221,915 shares in the company, valued at $17,227,261.45. This trade represents a 6.22 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the sale, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. This represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,000 shares of company stock valued at $20,899,260 in the last quarter. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Institutional investors have recently bought and sold shares of the stock. M&T Bank Corp grew its holdings in shares of Marvell Technology by 0.5% during the 3rd quarter. M&T Bank Corp now owns 87,005 shares of the semiconductor company’s stock worth $6,275,000 after acquiring an additional 448 shares during the period. TCW Group Inc. boosted its position in shares of Marvell Technology by 21.4% during the third quarter. TCW Group Inc. now owns 303,966 shares of the semiconductor company’s stock valued at $21,922,000 after purchasing an additional 53,641 shares in the last quarter. TD Private Client Wealth LLC grew its stake in Marvell Technology by 5.6% in the third quarter. TD Private Client Wealth LLC now owns 25,970 shares of the semiconductor company’s stock worth $1,873,000 after purchasing an additional 1,378 shares during the period. Toronto Dominion Bank raised its holdings in Marvell Technology by 32.9% in the third quarter. Toronto Dominion Bank now owns 124,866 shares of the semiconductor company’s stock worth $9,005,000 after purchasing an additional 30,893 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in Marvell Technology by 110.7% during the third quarter. Coldstream Capital Management Inc. now owns 11,228 shares of the semiconductor company’s stock valued at $810,000 after buying an additional 5,898 shares during the period. 83.51% of the stock is owned by institutional investors.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $89.86 on Friday. The business’s fifty day moving average is $79.94 and its 200 day moving average is $73.22. The firm has a market cap of $79.63 billion, a price-to-earnings ratio of -80.95, a PEG ratio of 3.82 and a beta of 1.44. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. Marvell Technology has a 52-week low of $50.35 and a 52-week high of $95.09.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. Marvell Technology’s revenue was down 5.1% compared to the same quarter last year. During the same period last year, the business earned $0.18 earnings per share. Research analysts predict that Marvell Technology will post 0.78 EPS for the current year.

Marvell Technology Announces Dividend

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

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.