Marvell Technology (MRVL) Set to Announce Quarterly Earnings on Tuesday

Marvell Technology (NASDAQ:MRVL) will be posting its quarterly earnings results after the market closes on Tuesday, December 3rd. Analysts expect Marvell Technology to post earnings of $0.40 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $1.27 billion for 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%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share. 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 Price Performance

Shares of NASDAQ MRVL opened at $92.69 on Friday. Marvell Technology has a fifty-two week low of $50.35 and a fifty-two week high of $95.55. 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 company 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 business has a 50-day simple moving average of $82.50 and a two-hundred day simple moving average of $74.32.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were issued 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 0.26%. Marvell Technology’s dividend payout ratio is currently -21.62%.

Insider Activity

In related news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total transaction of $177,075.00. Following the completion of the sale, the executive vice president now directly owns 22,494 shares in the company, valued at approximately $1,593,250.02. This trade represents a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the transaction, the chief financial officer now directly owns 114,211 shares in the company, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 267,000 shares of company stock worth $20,899,260 over the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Bank of America increased their price objective on Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a report on Friday, August 30th. Evercore ISI raised their price target on shares of Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Susquehanna increased their price objective on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “positive” rating in a research note on Wednesday. Stifel Nicolaus restated a “buy” rating and set a $95.00 target price (up from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Finally, Roth Mkm reiterated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $95.39.

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.