Brokerages Set Marvell Technology, Inc. (NASDAQ:MRVL) PT at $81.13

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) have earned an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and twenty have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $81.13.

A number of equities research analysts have recently commented on MRVL shares. UBS Group lifted their price target on shares of Marvell Technology from $70.00 to $83.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Needham & Company LLC reissued a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research report on Friday, April 12th. B. Riley reissued a “buy” rating and issued a $95.00 target price (up from $85.00) on shares of Marvell Technology in a research report on Monday, March 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 target price on shares of Marvell Technology in a research report on Friday, April 12th. Finally, Summit Insights raised shares of Marvell Technology from a “hold” rating to a “buy” rating in a research report on Friday, March 8th.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $64.49, for a total transaction of $64,490.00. Following the completion of the sale, the chief financial officer now owns 110,218 shares in the company, valued at $7,107,958.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $67.67, for a total transaction of $2,030,100.00. Following the completion of the transaction, the chief executive officer now owns 762,929 shares of the company’s stock, valued at $51,627,405.43. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $64.49, for a total transaction of $64,490.00. Following the transaction, the chief financial officer now directly owns 110,218 shares of the company’s stock, valued at approximately $7,107,958.82. The disclosure for this sale can be found here. Insiders sold a total of 110,500 shares of company stock worth $7,473,805 over the last 90 days. Insiders own 0.45% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Institutional investors have recently bought and sold shares of the stock. Bruce G. Allen Investments LLC lifted its holdings in Marvell Technology by 56.4% in the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 141 shares during the period. SJS Investment Consulting Inc. lifted its holdings in Marvell Technology by 56.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 155 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in Marvell Technology in the 1st quarter valued at about $31,000. Buck Wealth Strategies LLC lifted its holdings in Marvell Technology by 1,328.1% in the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 425 shares during the last quarter. Finally, Optimum Investment Advisors acquired a new stake in Marvell Technology in the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Up 4.5 %

MRVL stock opened at $66.67 on Tuesday. Marvell Technology has a one year low of $38.63 and a one year high of $85.76. The stock has a market capitalization of $57.74 billion, a PE ratio of -61.73, a price-to-earnings-growth ratio of 4.82 and a beta of 1.48. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69. The company has a fifty day moving average of $69.84 and a 200-day moving average of $62.95.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.46. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The business’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 EPS. As a group, analysts expect that Marvell Technology will post 0.72 EPS for the current year.

Marvell Technology announced that its Board of Directors has initiated a share repurchase program on Thursday, March 7th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 4.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 12th were paid a $0.06 dividend. The ex-dividend date was Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.36%. Marvell Technology’s dividend payout ratio (DPR) is presently -22.22%.

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.