Roth Mkm Reaffirms Buy Rating for Marvell Technology (NASDAQ:MRVL)

Roth Mkm reiterated their buy rating on shares of Marvell Technology (NASDAQ:MRVL) in a report issued on Friday morning, Benzinga reports. Roth Mkm currently has a $95.00 target price on the semiconductor company’s stock.

MRVL has been the subject of a number of other reports. Morgan Stanley boosted their target price on shares of Marvell Technology from $77.00 to $82.00 and gave the company an equal weight rating in a research note on Friday. Oppenheimer reiterated an outperform rating and issued a $90.00 price target (up previously from $80.00) on shares of Marvell Technology in a report on Friday, May 31st. Stifel Nicolaus upped their price objective on Marvell Technology from $86.00 to $90.00 and gave the stock a buy rating in a research report on Friday, May 31st. Jefferies Financial Group began coverage on Marvell Technology in a research report on Monday, May 13th. They issued a buy rating and a $85.00 price objective on the stock. Finally, Barclays increased their target price on Marvell Technology from $75.00 to $80.00 and gave the company an overweight rating in a research report on Friday, May 31st. Two analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology has a consensus rating of Moderate Buy and a consensus price target of $91.62.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $76.24 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 1.24. Marvell Technology has a 1-year low of $46.07 and a 1-year high of $85.76. The company has a market capitalization of $65.99 billion, a P/E ratio of -67.47, a P/E/G ratio of 3.61 and a beta of 1.47. The firm’s 50 day simple moving average is $68.12 and its two-hundred day simple moving average is $69.54.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) 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 4.26%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the business posted $0.18 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. Research analysts expect that Marvell Technology will post 0.75 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $0.24 dividend on an annualized basis and a yield of 0.31%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $73.88, for a total value of $110,820.00. Following the completion of the transaction, the chief financial officer now directly owns 109,318 shares of the company’s stock, valued at $8,076,413.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $73.88, for a total value of $369,400.00. Following the completion of the sale, the executive vice president now owns 110,318 shares in the company, valued at $8,150,293.84. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $73.88, for a total value of $110,820.00. Following the sale, the chief financial officer now owns 109,318 shares of the company’s stock, valued at approximately $8,076,413.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,500 shares of company stock valued at $4,872,620. 0.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marvell Technology

Several large investors have recently modified their holdings of MRVL. Tlwm raised its position in Marvell Technology by 1.6% in the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after acquiring an additional 136 shares in the last quarter. Bruce G. Allen Investments LLC grew 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 valued at $28,000 after purchasing an additional 141 shares during the last quarter. Trueblood Wealth Management LLC grew its holdings in Marvell Technology by 3.2% in the first quarter. Trueblood Wealth Management LLC now owns 4,944 shares of the semiconductor company’s stock valued at $350,000 after purchasing an additional 152 shares during the last quarter. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Marvell Technology by 0.5% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 30,764 shares of the semiconductor company’s stock valued at $1,855,000 after acquiring an additional 162 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC boosted its stake in shares of Marvell Technology by 0.4% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock valued at $3,143,000 after acquiring an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

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.