Marvell Technology (NASDAQ:MRVL) Earns “Buy” Rating from Stifel Nicolaus

Stifel Nicolaus restated their buy rating on shares of Marvell Technology (NASDAQ:MRVL) in a research report released on Friday morning, Benzinga reports. The brokerage currently has a $95.00 target price on the semiconductor company’s stock, up from their prior target price of $90.00.

A number of other analysts have also recently issued reports on the company. Evercore ISI lifted their price objective on Marvell Technology from $91.00 to $98.00 and gave the company an outperform rating in a research report on Friday. StockNews.com downgraded Marvell Technology from a hold rating to a sell rating in a report on Wednesday, May 15th. B. Riley lifted their target price on shares of Marvell Technology from $95.00 to $100.00 and gave the company a buy rating in a research note on Friday, May 31st. Barclays increased their price target on shares of Marvell Technology from $75.00 to $80.00 and gave the stock an overweight rating in a research note on Friday, May 31st. Finally, Roth Mkm reaffirmed a buy rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $91.62.

Marvell Technology Price Performance

Shares of MRVL opened at $76.24 on Friday. The business’s 50-day moving average is $67.95 and its 200-day moving average is $69.48. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 1.24. The company has a market capitalization of $65.99 billion, a price-to-earnings ratio of -67.47, a P/E/G ratio of 3.61 and a beta of 1.47. Marvell Technology has a fifty-two week low of $46.07 and a fifty-two week high of $85.76.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The firm 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 4.26%. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 EPS. Equities research analysts expect that Marvell Technology will post 0.75 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, July 12th. This represents a $0.24 annualized dividend and a dividend yield of 0.31%. Marvell Technology’s dividend payout ratio is -21.24%.

Insider Buying and Selling

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total value of $100,125.00. Following the completion of the sale, the chief financial officer now directly owns 113,253 shares of the company’s stock, valued at approximately $7,559,637.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $73.88, for a total transaction of $369,400.00. Following the transaction, the executive vice president now directly owns 110,318 shares in the company, valued at $8,150,293.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total value of $100,125.00. Following the completion of the transaction, the chief financial officer now directly owns 113,253 shares of the company’s stock, valued at approximately $7,559,637.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,500 shares of company stock valued at $4,872,620. 0.33% of the stock is owned by company insiders.

Institutional Trading of Marvell Technology

Institutional investors and hedge funds have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new stake in Marvell Technology in the 2nd quarter valued at $32,000. Clearbridge Investments LLC raised its position in Marvell Technology by 3.0% in the 2nd quarter. Clearbridge Investments LLC now owns 5,189,682 shares of the semiconductor company’s stock worth $362,759,000 after purchasing an additional 150,109 shares during the last quarter. New Century Financial Group LLC lifted its holdings in Marvell Technology by 46.4% during the 2nd quarter. New Century Financial Group LLC now owns 5,272 shares of the semiconductor company’s stock worth $369,000 after buying an additional 1,670 shares in the last quarter. Cetera Investment Advisers boosted its position in Marvell Technology by 13.4% in the 2nd quarter. Cetera Investment Advisers now owns 199,109 shares of the semiconductor company’s stock valued at $13,918,000 after buying an additional 23,591 shares during the last quarter. Finally, Truist Financial Corp raised its position in shares of Marvell Technology by 15.4% during the second quarter. Truist Financial Corp now owns 974,756 shares of the semiconductor company’s stock worth $68,135,000 after acquiring an additional 129,831 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

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.