Marvell Technology (MRVL) Scheduled to Post Quarterly Earnings on Tuesday

Marvell Technology (NASDAQ:MRVL) will post 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. Individual that wish to register for the company’s earnings conference call can do so using this link.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the firm earned $0.18 EPS. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. 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 Stock Up 2.9 %

NASDAQ:MRVL opened at $92.69 on Monday. Marvell Technology has a 52 week low of $50.35 and a 52 week high of $95.55. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The stock’s fifty day moving average is $82.50 and its two-hundred day moving average is $74.37. The stock has a market capitalization of $82.14 billion, a price-to-earnings ratio of -83.50, a price-to-earnings-growth ratio of 4.03 and a beta of 1.44.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology’s dividend payout ratio is currently -21.62%.

Analyst Ratings Changes

MRVL has been the topic of a number of analyst reports. Loop Capital assumed coverage on Marvell Technology in a research report on Monday, November 11th. They issued a “hold” rating and a $95.00 price target on the stock. Roth Mkm reaffirmed a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Needham & Company LLC reissued a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Susquehanna upped their price objective on Marvell Technology from $95.00 to $110.00 and gave the stock a “positive” rating in a research report on Wednesday, November 27th. Finally, TD Cowen raised Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Three analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $95.39.

Insider Buying and Selling at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the transaction, the chief financial officer now directly owns 114,211 shares in the company, valued at approximately $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ford Tamer sold 92,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $74.16, for a total value of $6,822,720.00. Following the transaction, the director now owns 351,193 shares in the company, valued at $26,044,472.88. This trade represents a 20.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 267,000 shares of company stock worth $20,899,260. 0.33% of the stock is owned by insiders.

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.