B. Riley Increases Marvell Technology (NASDAQ:MRVL) Price Target to $66.00

Marvell Technology (NASDAQ:MRVL) had its price target lifted by B. Riley from $56.00 to $66.00 in a research report released on Tuesday morning, Price Targets.com reports. B. Riley currently has a buy rating on the semiconductor company’s stock.

Other equities analysts have also recently issued reports about the company. Susquehanna reissued a buy rating on shares of Marvell Technology in a report on Thursday, June 3rd. Needham & Company LLC increased their target price on Marvell Technology from $50.00 to $55.00 and gave the stock a buy rating in a report on Tuesday. Craig Hallum increased their target price on Marvell Technology from $52.00 to $63.00 and gave the stock a buy rating in a report on Tuesday. Evercore ISI increased their target price on Marvell Technology from $52.00 to $55.00 and gave the stock an outperform rating in a report on Friday, March 12th. Finally, Morgan Stanley increased their target price on Marvell Technology from $44.00 to $49.00 and gave the stock an equal weight rating in a report on Monday, March 1st. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $54.70.

Shares of MRVL stock opened at $51.80 on Tuesday. The stock has a 50 day moving average price of $47.06. 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 has a 12 month low of $32.53 and a 12 month high of $55.70. The company has a market cap of $35.00 billion, a P/E ratio of -123.33, a P/E/G ratio of 2.32 and a beta of 1.10.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Sunday, June 6th. The semiconductor company reported $0.29 EPS for the quarter, topping the Zacks’ 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 in the prior year, the company posted $0.18 earnings per share. On average, equities analysts expect that Marvell Technology will post 1.02 EPS for the current year.

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

In other news, CEO Matthew J. Murphy sold 7,500 shares of the firm’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $47.89, for a total value of $359,175.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Matthew J. Murphy sold 20,000 shares of the firm’s stock in a transaction on Monday, May 17th. The stock was sold at an average price of $42.66, for a total value of $853,200.00. The disclosure for this sale can be found here. Insiders sold a total of 51,071 shares of company stock valued at $2,357,411 over the last three months. Insiders own 0.33% of the company’s stock.

Large investors have recently bought and sold shares of the company. Safeguard Investment Advisory Group LLC bought a new position in shares of Marvell Technology in the 4th quarter worth $25,000. TRU Independence Asset Management 2 LLC bought a new position in shares of Marvell Technology in the 4th quarter worth $25,000. Encompass Wealth Advisors LLC bought a new position in shares of Marvell Technology in the 4th quarter worth $25,000. Tompkins Financial Corp bought a new position in shares of Marvell Technology in the 4th quarter worth $27,000. Finally, Arlington Partners LLC bought a new position in shares of Marvell Technology in the 1st quarter worth $33,000. Institutional investors and hedge funds own 89.31% of the company’s stock.

Marvell Technology Company Profile

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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Analyst Recommendations for Marvell Technology (NASDAQ:MRVL)

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