Marvell Technology, Inc. (NASDAQ:MRVL) has received an average rating of “Buy” from the twenty-eight analysts that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and twenty-two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $67.38.
MRVL has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft increased their price target on Marvell Technology from $70.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, August 27th. Wells Fargo & Company upped their price objective on Marvell Technology from $50.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, August 27th. William Blair reaffirmed an “outperform” rating on shares of Marvell Technology in a report on Tuesday, June 8th. Morgan Stanley lifted their target price on shares of Marvell Technology from $57.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 23rd. Finally, B. Riley boosted their target price on shares of Marvell Technology from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, August 23rd.
In other news, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction on Friday, September 10th. The stock was sold at an average price of $61.86, for a total value of $309,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew J. Murphy sold 20,000 shares of Marvell Technology stock in a transaction dated Monday, August 16th. The shares were sold at an average price of $59.16, for a total value of $1,183,200.00. The disclosure for this sale can be found here. Insiders have sold 65,150 shares of company stock worth $3,868,125 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.
Shares of NASDAQ MRVL traded down $1.68 during midday trading on Thursday, reaching $61.39. The company’s stock had a trading volume of 319,939 shares, compared to its average volume of 8,457,097. The stock has a market capitalization of $50.56 billion, a price-to-earnings ratio of -131.40, a PEG ratio of 3.23 and a beta of 1.07. Marvell Technology has a fifty-two week low of $35.30 and a fifty-two week high of $64.07. The stock has a 50 day simple moving average of $60.80 and a 200-day simple moving average of $53.59. The company has a current ratio of 1.50, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12.
Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Wednesday, August 25th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Marvell Technology had a positive return on equity of 6.40% and a negative net margin of 10.74%. During the same quarter in the previous year, the business posted $0.21 EPS. As a group, equities analysts anticipate that Marvell Technology will post 0.92 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 27th. Shareholders of record on Monday, October 11th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, October 7th. This represents a $0.24 dividend on an annualized basis and a yield of 0.39%. Marvell Technology’s dividend payout ratio (DPR) is currently 41.38%.
Marvell Technology Company Profile
Marvell Technology, Inc engages in the provision of data infrastructure semiconductor solutions. It offers compute, networking, storage and custom related solutions. The company was founded in 1995 and is headquartered in Wilmington, DE.
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