Marvell Technology (NASDAQ:MRVL) Coverage Initiated by Analysts at Loop Capital

Loop Capital started coverage on shares of Marvell Technology (NASDAQ:MRVL) in a research report released on Monday, Marketbeat.com reports. The brokerage issued a hold rating and a $95.00 price objective on the semiconductor company’s stock.

Several other research firms have also issued reports on MRVL. Bank of America increased their price target on shares of Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Morgan Stanley increased their price target on shares of Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. Roth Mkm reissued a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price target (up previously from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Finally, Benchmark raised their price objective on shares of Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.77.

Marvell Technology Stock Down 2.9 %

Shares of MRVL opened at $90.07 on Monday. The company has a 50-day simple moving average of $78.04 and a 200-day simple moving average of $72.43. The firm has a market capitalization of $79.82 billion, a P/E ratio of -81.14, a P/E/G ratio of 4.03 and a beta of 1.44. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. Marvell Technology has a 52 week low of $50.35 and a 52 week high of $95.09.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the business earned $0.18 earnings per share. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities research analysts expect that Marvell Technology will post 0.78 earnings per share for the current year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. Marvell Technology’s dividend payout ratio (DPR) is currently -21.62%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $73.29, for a total value of $439,740.00. Following the transaction, the chief executive officer now directly owns 208,915 shares of the company’s stock, valued at approximately $15,311,380.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Marvell Technology news, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $12,075,000.00. Following the transaction, the insider now directly owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew J. Murphy sold 6,000 shares of Marvell Technology stock in a transaction on Monday, September 16th. The stock was sold at an average price of $73.29, for a total transaction of $439,740.00. Following the transaction, the chief executive officer now directly owns 208,915 shares in the company, valued at approximately $15,311,380.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 259,500 shares of company stock valued at $20,230,710. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Marvell Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Davidson Kempner Capital Management LP boosted its position in shares of Marvell Technology by 26.5% during the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock worth $17,482,000 after purchasing an additional 52,365 shares in the last quarter. Diversified Trust Co bought a new position in shares of Marvell Technology during the second quarter worth $932,000. Orion Portfolio Solutions LLC boosted its position in shares of Marvell Technology by 47.1% during the first quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock worth $2,282,000 after purchasing an additional 10,306 shares in the last quarter. WD Rutherford LLC boosted its position in shares of Marvell Technology by 182.5% during the third quarter. WD Rutherford LLC now owns 18,266 shares of the semiconductor company’s stock worth $1,317,000 after purchasing an additional 11,801 shares in the last quarter. Finally, Silicon Valley Capital Partners boosted its position in shares of Marvell Technology by 254.6% during the third quarter. Silicon Valley Capital Partners now owns 32,978 shares of the semiconductor company’s stock worth $2,378,000 after purchasing an additional 23,678 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

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.