Marvell Technology (NASDAQ:MRVL) Price Target Lowered to $45.00 at Barclays

Marvell Technology (NASDAQ:MRVL – Get Rating) had its target price decreased by Barclays from $55.00 to $45.00 in a research report released on Monday morning, The Fly reports. Barclays currently has an overweight rating on the semiconductor company’s stock.

A number of other research firms have also weighed in on MRVL. B. Riley dropped their price target on shares of Marvell Technology from $63.00 to $52.00 and set a neutral rating on the stock in a research report on Tuesday, October 4th. JPMorgan Chase & Co. dropped their price target on shares of Marvell Technology from $85.00 to $75.00 and set an overweight rating on the stock in a research report on Monday, November 28th. Cowen lowered their price objective on shares of Marvell Technology from $70.00 to $55.00 and set an outperform rating on the stock in a research report on Friday, December 2nd. Craig Hallum lowered their price objective on shares of Marvell Technology from $90.00 to $63.00 in a research report on Friday, December 2nd. Finally, StockNews.com raised shares of Marvell Technology from a sell rating to a hold rating in a research report on Monday, January 2nd. Four equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, Marvell Technology currently has an average rating of Moderate Buy and a consensus target price of $63.54.

Marvell Technology Stock Up 8.3 %

Marvell Technology stock opened at $42.75 on Monday. The company has a current ratio of 1.31, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. The firm’s fifty day moving average price is $40.30 and its two-hundred day moving average price is $44.41. Marvell Technology has a 1-year low of $33.75 and a 1-year high of $78.19. The firm has a market capitalization of $36.47 billion, a price-to-earnings ratio of -267.19, a price-to-earnings-growth ratio of 2.41 and a beta of 1.45.

Marvell Technology (NASDAQ:MRVL – Get Rating) last released its quarterly earnings results on Thursday, December 1st. The semiconductor company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Marvell Technology had a negative net margin of 2.43% and a positive return on equity of 8.50%. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.56 billion. On average, equities research analysts predict that Marvell Technology will post 1.5 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Friday, January 6th will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, January 5th. This represents a $0.24 annualized dividend and a yield of 0.56%. Marvell Technology’s dividend payout ratio is currently -150.00%.

Insiders Place Their Bets

In other Marvell Technology news, CAO Willem A. Meintjes sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, January 6th. The shares were sold at an average price of $34.92, for a total value of $349,200.00. Following the completion of the transaction, the chief accounting officer now owns 72,896 shares of the company’s stock, valued at approximately $2,545,528.32. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Guardian Wealth Advisors LLC purchased a new position in Marvell Technology in the 3rd quarter worth approximately $26,000. Canton Hathaway LLC bought a new stake in shares of Marvell Technology in the 2nd quarter worth approximately $28,000. Arlington Partners LLC bought a new stake in shares of Marvell Technology in the 2nd quarter worth approximately $29,000. Deseret Mutual Benefit Administrators lifted its holdings in shares of Marvell Technology by 140.3% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 668 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 390 shares during the last quarter. Finally, Crewe Advisors LLC lifted its holdings in shares of Marvell Technology by 38.5% in the 2nd quarter. Crewe Advisors LLC now owns 734 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 81.28% of the company’s stock.

Marvell Technology Company Profile

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Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors.