Marvell Technology, Inc. (NASDAQ:MRVL) Receives $91.77 Average Target Price from Analysts

Marvell Technology, Inc. (NASDAQ:MRVL) has been assigned a consensus rating of “Moderate Buy” from the twenty-three brokerages that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, twenty have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $91.77.

Several equities analysts have recently weighed in on MRVL shares. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. Benchmark raised their target price on shares of Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Stifel Nicolaus reissued a “buy” rating and set a $95.00 price target (up from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Citigroup restated a “buy” rating and issued a $91.00 price objective on shares of Marvell Technology in a report on Monday, October 14th. Finally, The Goldman Sachs Group upped their target price on Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, August 30th.

Insider Buying and Selling at Marvell Technology

In other news, Director Ford Tamer sold 92,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $74.16, for a total value of $6,822,720.00. Following the transaction, the director now directly owns 351,193 shares of the company’s stock, valued at $26,044,472.88. The trade was a 20.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $73.87, for a total value of $110,805.00. Following the completion of the sale, the chief financial officer now owns 111,753 shares of the company’s stock, valued at approximately $8,255,194.11. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 267,000 shares of company stock worth $20,899,260. 0.33% of the stock is currently owned by company insiders.

Institutional Trading of Marvell Technology

Several hedge funds have recently bought and sold shares of MRVL. True Wealth Design LLC raised its stake in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Marvell Technology during the second quarter worth $32,000. Quarry LP purchased a new stake in Marvell Technology in the 2nd quarter valued at $32,000. Mark Sheptoff Financial Planning LLC bought a new position in Marvell Technology during the 1st quarter valued at $35,000. Finally, Whittier Trust Co. boosted its holdings in Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 210 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $88.71 on Friday. The stock has a 50-day moving average of $79.28 and a 200-day moving average of $72.96. Marvell Technology has a one year low of $50.35 and a one year high of $95.09. The stock has a market cap of $78.61 billion, a PE ratio of -79.92, a price-to-earnings-growth ratio of 3.82 and a beta of 1.44. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26.

Marvell Technology (NASDAQ:MRVL) last issued 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 positive return on equity of 4.31% and a negative net margin of 18.30%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the firm earned $0.18 EPS. Marvell Technology’s quarterly revenue was down 5.1% compared to the same quarter last year. As a group, sell-side analysts expect that Marvell Technology will post 0.78 earnings per share for the current year.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were issued a $0.06 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.27%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.62%.

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.