Marvell Technology (NASDAQ:MRVL) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Marvell Technology (NASDAQ:MRVL) from a sell rating to a hold rating in a report published on Saturday.

A number of other equities research analysts also recently issued reports on the stock. Summit Insights upgraded shares of Marvell Technology from a hold rating to a buy rating in a research note on Friday, March 8th. Rosenblatt Securities reiterated a buy rating and set a $100.00 price objective on shares of Marvell Technology in a research note on Monday, March 4th. UBS Group raised their price target on shares of Marvell Technology from $70.00 to $83.00 and gave the company a buy rating in a research note on Monday, February 26th. TD Cowen raised their price target on shares of Marvell Technology from $75.00 to $90.00 and gave the company an outperform rating in a research note on Friday, March 8th. Finally, Stifel Nicolaus restated a buy rating and issued a $86.00 price target on shares of Marvell Technology in a research note on Friday, April 12th. Two analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, Marvell Technology presently has a consensus rating of Moderate Buy and a consensus target price of $81.13.

Marvell Technology Trading Up 1.6 %

MRVL stock opened at $63.86 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69. The company’s 50-day simple moving average is $69.97 and its 200 day simple moving average is $62.40. Marvell Technology has a 52 week low of $36.90 and a 52 week high of $85.76. The company has a market capitalization of $55.30 billion, a PE ratio of -59.13, a price-to-earnings-growth ratio of 4.54 and a beta of 1.50.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share. As a group, sell-side analysts anticipate that Marvell Technology will post 0.72 earnings per share for the current year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Thursday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is -22.22%.

Marvell Technology announced that its Board of Directors has approved a stock repurchase program on Thursday, March 7th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 4.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $68.20, for a total transaction of $68,200.00. Following the completion of the sale, the chief financial officer now owns 103,986 shares of the company’s stock, valued at approximately $7,091,845.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $68.20, for a total value of $68,200.00. Following the completion of the sale, the chief financial officer now owns 103,986 shares of the company’s stock, valued at approximately $7,091,845.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $67.67, for a total transaction of $2,030,100.00. Following the completion of the sale, the chief executive officer now directly owns 762,929 shares of the company’s stock, valued at approximately $51,627,405.43. The disclosure for this sale can be found here. Insiders sold a total of 110,500 shares of company stock valued at $7,477,515 in the last quarter. 0.45% of the stock is currently owned by company insiders.

Institutional Trading of Marvell Technology

Several hedge funds have recently bought and sold shares of the business. Buck Wealth Strategies LLC boosted its holdings in Marvell Technology by 1,328.1% during the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 425 shares during the last quarter. SJS Investment Consulting Inc. boosted its holdings in Marvell Technology by 56.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 155 shares during the last quarter. Bruce G. Allen Investments LLC boosted its holdings in Marvell Technology by 56.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 141 shares during the last quarter. BluePath Capital Management LLC purchased a new position in Marvell Technology during the 3rd quarter worth $31,000. Finally, Oliver Lagore Vanvalin Investment Group boosted its holdings in Marvell Technology by 46.2% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 165 shares during the last quarter. Institutional investors and hedge funds 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.