Marvell Technology, Inc. (NASDAQ:MRVL) Receives Average Rating of “Buy” from Analysts

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) have been given an average rating of "Buy" by the thirty research firms that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and twenty-six have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $96.15.

A number of brokerages recently commented on MRVL. B. Riley increased their price objective on shares of Marvell Technology from $90.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, December 3rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Marvell Technology from $76.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, December 3rd. Cowen raised shares of Marvell Technology from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $66.00 to $100.00 in a research note on Friday, December 3rd. KGI Securities started coverage on shares of Marvell Technology in a research report on Tuesday, December 7th. They issued an "outperform" rating on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of Marvell Technology from $85.00 to $100.00 and gave the stock an "overweight" rating in a research report on Friday, December 3rd.

In other Marvell Technology news, CAO Willem A. Meintjes sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, December 6th. The stock was sold at an average price of $81.86, for a total value of $1,637,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Loi Nguyen sold 495 shares of Marvell Technology stock in a transaction that occurred on Tuesday, December 28th. The stock was sold at an average price of $90.81, for a total value of $44,950.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 619,573 shares of company stock worth $47,860,121. 0.33% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. EPG Wealth Management LLC grew its position in Marvell Technology by 3.1% during the 3rd quarter. EPG Wealth Management LLC now owns 5,059 shares of the semiconductor company's stock worth $305,000 after acquiring an additional 150 shares during the last quarter. HM Payson & Co. grew its position in shares of Marvell Technology by 52.5% in the 3rd quarter. HM Payson & Co. now owns 453 shares of the semiconductor company's stock valued at $27,000 after buying an additional 156 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Marvell Technology by 3.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,751 shares of the semiconductor company's stock valued at $287,000 after buying an additional 160 shares during the last quarter. Veriti Management LLC boosted its position in shares of Marvell Technology by 1.0% during the 3rd quarter. Veriti Management LLC now owns 16,624 shares of the semiconductor company's stock valued at $1,003,000 after purchasing an additional 166 shares in the last quarter. Finally, BDO Wealth Advisors LLC boosted its position in shares of Marvell Technology by 13.5% during the 2nd quarter. BDO Wealth Advisors LLC now owns 1,400 shares of the semiconductor company's stock valued at $82,000 after purchasing an additional 167 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:MRVL opened at $87.49 on Friday. The stock has a market cap of $73.82 billion, a P/E ratio of -165.07, a P/E/G ratio of 3.67 and a beta of 1.07. The firm has a fifty day moving average price of $78.29 and a 200 day moving average price of $66.43. Marvell Technology has a 1-year low of $37.92 and a 1-year high of $93.85.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Wednesday, December 1st. The semiconductor company reported $0.43 EPS for the quarter, topping the Zacks' consensus estimate of $0.38 by $0.05. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.15 billion. Marvell Technology had a negative net margin of 10.48% and a positive return on equity of 8.26%. Marvell Technology's quarterly revenue was up 61.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 EPS. Analysts anticipate that Marvell Technology will post 0.98 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 26th. Stockholders of record on Friday, January 7th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend is Thursday, January 6th. Marvell Technology's dividend payout ratio is currently -45.28%.

Marvell Technology Company Profile

Marvell Technology, Inc engages in the provision of data infrastructure semiconductor solutions. It offers compute, networking, storage and custom related solutions. The company was founded in 1995 and is headquartered in Wilmington, DE.

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