Marvell Technology (NASDAQ:MRVL) Releases Q2 2022 Earnings Guidance

Marvell Technology (NASDAQ:MRVL) updated its second quarter 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.280-0.340 for the period, compared to the Thomson Reuters consensus estimate of $0.300. The company issued revenue guidance of $1.03 billion-1.10 billion, compared to the consensus revenue estimate of $1.04 billion.

Several equities analysts recently issued reports on MRVL shares. TheStreet cut Marvell Technology from a b- rating to a c rating in a report on Wednesday, March 3rd. BMO Capital Markets raised Marvell Technology from a market perform rating to an outperform rating and lifted their price objective for the stock from $45.00 to $50.00 in a report on Monday, March 8th. Wells Fargo & Company lifted their price objective on Marvell Technology from $45.00 to $50.00 and gave the stock an equal weight rating in a report on Tuesday. Summit Insights raised Marvell Technology from a hold rating to a buy rating in a report on Tuesday. Finally, Susquehanna reaffirmed a buy rating on shares of Marvell Technology in a report on Thursday, June 3rd. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Marvell Technology has a consensus rating of Buy and an average price target of $54.70.

Marvell Technology stock traded up $1.45 during trading on Thursday, hitting $51.80. The company’s stock had a trading volume of 9,463,048 shares, compared to its average volume of 10,295,983. The stock has a market capitalization of $35.00 billion, a PE ratio of -119.88, a price-to-earnings-growth ratio of 2.32 and a beta of 1.10. The stock has a fifty day moving average price of $47.02. Marvell Technology has a 1-year low of $32.53 and a 1-year high of $55.70. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.50 and a quick ratio of 1.25.

Marvell Technology (NASDAQ:MRVL) last released its earnings results on Sunday, June 6th. The semiconductor company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Marvell Technology had a positive return on equity of 5.25% and a negative net margin of 8.13%. During the same period last year, the company earned $0.18 earnings per share. Equities research analysts forecast that Marvell Technology will post 1.02 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 28th. Shareholders of record on Friday, July 9th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Thursday, July 8th. Marvell Technology’s dividend payout ratio (DPR) is presently 41.38%.

In other Marvell Technology news, CEO Matthew J. Murphy sold 20,000 shares of the business’s stock in a transaction dated Monday, May 17th. The stock was sold at an average price of $42.66, for a total transaction of $853,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew J. Murphy sold 7,500 shares of the business’s stock in a transaction dated Thursday, April 15th. The shares were sold at an average price of $48.66, for a total value of $364,950.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,071 shares of company stock valued at $2,357,411. 0.33% of the stock is owned by company insiders.

About Marvell Technology

Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; application specific integrated circuits; and printer SoC products and application processors.

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Earnings History and Estimates for Marvell Technology (NASDAQ:MRVL)

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