Marvell Technology (NASDAQ:MRVL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Marvell Technology (NASDAQ:MRVL) from a hold rating to a buy rating in a report issued on Saturday.

A number of other equities research analysts have also recently commented on the stock. Roth Capital set a $100.00 price objective on shares of Marvell Technology in a research note on Thursday, March 6th. Susquehanna dropped their price target on shares of Marvell Technology from $110.00 to $90.00 and set a “positive” rating on the stock in a research report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Marvell Technology from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, May 30th. UBS Group restated a “buy” rating on shares of Marvell Technology in a research report on Monday, June 2nd. Finally, Cantor Fitzgerald raised their price objective on Marvell Technology from $60.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, June 18th. Six investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.33.

Marvell Technology Price Performance

NASDAQ MRVL opened at $70.78 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94. The stock’s fifty day moving average price is $62.39 and its 200 day moving average price is $83.76. Marvell Technology has a 1 year low of $47.09 and a 1 year high of $127.48. The company has a market cap of $61.14 billion, a price-to-earnings ratio of -124.18, a PEG ratio of 0.80 and a beta of 1.76.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the company earned $0.24 earnings per share. The company’s revenue was up 63.3% on a year-over-year basis. As a group, equities research analysts forecast that Marvell Technology will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend is Friday, July 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -42.11%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CAO Panteha Dixon sold 1,283 shares of the company’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $68.50, for a total transaction of $87,885.50. Following the transaction, the chief accounting officer now directly owns 29,572 shares in the company, valued at $2,025,682. This represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $68.52, for a total value of $102,780.00. Following the transaction, the chief financial officer now directly owns 121,348 shares in the company, valued at approximately $8,314,764.96. The trade was a 1.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,394 shares of company stock valued at $1,656,076 over the last 90 days. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Marvell Technology

Several hedge funds have recently bought and sold shares of the company. Swedbank AB lifted its position in shares of Marvell Technology by 4.3% during the first quarter. Swedbank AB now owns 2,264,520 shares of the semiconductor company’s stock worth $139,426,000 after purchasing an additional 93,386 shares in the last quarter. Inspire Investing LLC lifted its holdings in Marvell Technology by 114.1% during the 1st quarter. Inspire Investing LLC now owns 5,016 shares of the semiconductor company’s stock worth $309,000 after buying an additional 2,673 shares in the last quarter. Vista Cima Wealth Management LLC acquired a new stake in Marvell Technology during the 1st quarter worth approximately $345,000. Silicon Valley Capital Partners lifted its holdings in Marvell Technology by 1.7% during the 1st quarter. Silicon Valley Capital Partners now owns 33,571 shares of the semiconductor company’s stock worth $2,083,000 after buying an additional 569 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Marvell Technology during the 1st quarter worth approximately $16,366,000. 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.