Shares of Marvell Technology (NASDAQ:MRVL) fell 3.9%

Marvell Technology, Inc. stock price. (NASDAQ:MRVL – Get Free Report ) traded down 3.9% during mid-day trading on Friday. The company traded as high as $70.29 and last traded at $70.57. 3,738,383 shares were traded mid-day, down 70% from the session’s average volume of 12,440,396 shares. Shares previously closed at $73.45.

Analysts on Wall Street are forecasting an increase

MRVL has been the subject of several recent research reports. Morgan Stanley upped their target price on Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. Oppenheimer reissued an “outperform” rating and issued a $90.00 target price (up from $80.00) on shares of Marvell Technology in a research note on Friday, May 31st. TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, September 16th. Stifel Nicolaus restated a “buy” rating and issued a $95.00 target price (up from $90.00) on shares of Marvell Technology in a research note on Friday, August 30th. Finally, Piper Sandler restated an “overweight” rating and set a $100.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Moderate Buy” and a consensus price target of $91.62, according to MarketBeat.com.

Check out our latest report on Marvell technology

Marvell technology price performance

The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79, and a quick ratio of 1.26. The company’s 50-day moving average is $68.24, and its two-hundred-day moving average is $69.55. The firm has a market cap of $61.10 billion, a PE ratio of -62.45, a P/E/G ratio of 3.12 and a beta of 1.46.

Marvell Technology (NASDAQ:MRVL – Get Your Free Report ) last posted its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. In the same period last year, the firm earned $0.18 per share. The company’s revenue for the quarter was down 5.1% year over year. As a group, research analysts anticipate that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology announces dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be given a dividend of $0.06 per share. This represents a dividend of $0.24 on an annualized basis and a dividend yield of 0.34%. The ex-dividend date is Friday, October 11. Marvell Technology’s dividend payout ratio is -21.24%.

Insider buying and selling at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy sold 6,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.29, for a total transaction of $439,740.00. Following the completion of the sale, the chief executive officer now directly owns 208,915 shares in the company, valued at approximately $15,311,380.35. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. In other news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.87, for a total transaction of $110,805.00. Following the completion of the transaction, the chief financial officer now owns 111,753 shares in the company, valued at $8,255,194.11. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, CEO Matthew J. Murphy sold 6,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $73.29, for a total value of $439,740.00. Following the transaction, the chief executive officer now owns 208,915 shares of the company’s stock, valued at $15,311,380.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 160,000 shares of company stock worth $11,878,785. 0.33% of the stock is owned by insiders.

Institutional investors are stepping in on Marvell Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. raised its stake in shares of Marvell Technology by 5.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 75,903 shares of the semiconductor company’s stock valued at $4,578,000 after purchasing an additional 3,800 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Marvell Technology by 12.1% in the fourth quarter. Stifel Financial Corp now owns 1,126,020 shares of the semiconductor company’s stock worth $67,916,000 after purchasing an additional 121,980 shares during the last quarter. Focus Financial Network Inc. ADV bought a new position in Marvell Technology in the 4th quarter valued at approximately $1,487,000. Fiduciary Trust Co raised its position in shares of Marvell Technology by 120.5% during the fourth quarter. Fiduciary Trust Co now owns 26,597 shares of the semiconductor company’s stock worth $1,604,000 after acquiring an additional 14,535 shares during the period. Finally, State of North Carolina State Treasurer raised its stake in shares of Marvell Technology by 1.0% during the fourth quarter. State Treasurer State of North Carolina now owns 390,190 shares of the semiconductor company’s stock valued at $23,532,000 after acquiring an additional 3,710 shares in the last quarter. 83.51% of the shares are currently held by hedge funds and other institutional investors.

Marvell Technology Company Profile

(Get a free report)

Marvell Technology, Inc, together with its subsidiaries, provides semiconductor data infrastructure solutions spanning the data center core to the network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed and digital signal processing functionality.

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