Marvell Technology (NASDAQ:MRVL) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Marvell Technology (NASDAQ:MRVL) in a research report report published on Friday, Benzinga reports. The firm currently has a $85.00 target price on the semiconductor company’s stock.

Several other equities analysts have also weighed in on MRVL. Summit Insights upgraded shares of Marvell Technology from a hold rating to a buy rating in a research report on Friday, March 8th. Raymond James raised their price objective on shares of Marvell Technology from $62.00 to $78.00 and gave the company an outperform rating in a research report on Friday, January 19th. Rosenblatt Securities restated a buy rating and set a $100.00 price objective on shares of Marvell Technology in a research report on Monday, March 4th. Barclays raised their price objective on shares of Marvell Technology from $70.00 to $75.00 and gave the company an overweight rating in a research report on Tuesday, January 16th. Finally, UBS Group raised their price objective on shares of Marvell Technology from $70.00 to $83.00 and gave the company a buy rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $79.96.

Marvell Technology Stock Performance

Shares of MRVL opened at $67.88 on Friday. The firm has a 50-day moving average price of $70.40 and a 200 day moving average price of $61.99. The firm has a market capitalization of $58.78 billion, a PE ratio of -62.85, a P/E/G ratio of 5.13 and a beta of 1.50. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.27. Marvell Technology has a 52-week low of $36.90 and a 52-week high of $85.76.

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

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors 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 yield of 0.35%. The ex-dividend date of this dividend is Thursday, April 11th. Marvell Technology’s payout ratio is presently -22.22%.

Marvell Technology declared that its Board of Directors has authorized a stock repurchase plan on Thursday, March 7th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to buy up to 4.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $67.67, for a total transaction of $2,030,100.00. Following the transaction, the chief executive officer now owns 762,929 shares in the company, valued at $51,627,405.43. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $67.67, for a total transaction of $2,030,100.00. Following the transaction, the chief executive officer now owns 762,929 shares in the company, valued at $51,627,405.43. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 103,986 shares in the company, valued at approximately $7,091,845.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,000 shares of company stock valued at $4,894,790. 0.45% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marvell Technology

Several hedge funds and other institutional investors have recently modified their holdings of MRVL. SRS Capital Advisors Inc. boosted its stake in Marvell Technology by 216.2% during the second quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock worth $25,000 after buying an additional 281 shares in the last quarter. Buck Wealth Strategies LLC boosted its stake in Marvell Technology by 1,328.1% during the third quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after buying an additional 425 shares in the last quarter. SJS Investment Consulting Inc. lifted its holdings in shares of Marvell Technology by 56.8% during the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 155 shares during the period. Resurgent Financial Advisors LLC bought a new position in shares of Marvell Technology during the fourth quarter valued at $28,000. Finally, Bruce G. Allen Investments LLC lifted its holdings in shares of Marvell Technology by 56.4% during the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 141 shares during the period. 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.