Marvell Technology (NASDAQ:MRVL) Trading Down 0%

Marvell Technology, Inc. (NASDAQ:MRVL) was down 0% during mid-day trading on Tuesday . The stock traded as low as $69.18 and last traded at $69.81. Approximately 1,049,824 shares were traded during trading, a decline of 92% from the average daily volume of 13,587,041 shares. The stock had previously closed at $69.82.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MRVL shares. Evercore ISI started coverage on shares of Marvell Technology in a research report on Tuesday, April 16th. They set an “outperform” rating and a $88.00 target price for the company. Raymond James upped their price target on shares of Marvell Technology from $62.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Summit Insights upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. TD Cowen upped their price target on shares of Marvell Technology from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, March 8th. Finally, Citigroup reiterated a “buy” rating and issued a $91.00 price target on shares of Marvell Technology in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.13.

Marvell Technology Stock Down 1.6 %

The business’s fifty day moving average is $69.88 and its two-hundred day moving average is $63.34. The company has a market cap of $59.48 billion, a P/E ratio of -64.64, a price-to-earnings-growth ratio of 5.01 and a beta of 1.48. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. The business 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 company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS. Equities analysts predict that Marvell Technology, Inc. will post 0.72 EPS for the current year.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Thursday, April 11th. Marvell Technology’s payout ratio is currently -22.22%.

Marvell Technology declared that its Board of Directors has initiated a share repurchase program on Thursday, March 7th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $64.49, for a total transaction of $64,490.00. Following the sale, the chief financial officer now owns 110,218 shares of the company’s stock, valued at approximately $7,107,958.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $64.49, for a total transaction of $64,490.00. Following the completion of the sale, the chief financial officer now directly owns 110,218 shares in the company, valued at approximately $7,107,958.82. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction that occurred 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 sale, the chief executive officer now owns 762,929 shares of the company’s stock, valued at $51,627,405.43. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,500 shares of company stock valued at $7,473,805. Insiders own 0.45% of the company’s stock.

Institutional Trading of Marvell Technology

Several institutional investors and hedge funds have recently bought and sold shares of MRVL. Concurrent Investment Advisors LLC acquired a new position in shares of Marvell Technology in the 1st quarter valued at $308,000. Atomi Financial Group Inc. lifted its stake in shares of Marvell Technology by 8.1% in the 1st quarter. Atomi Financial Group Inc. now owns 4,380 shares of the semiconductor company’s stock valued at $310,000 after purchasing an additional 328 shares during the period. Redwood Wealth Management Group LLC lifted its stake in shares of Marvell Technology by 7.2% in the 1st quarter. Redwood Wealth Management Group LLC now owns 5,009 shares of the semiconductor company’s stock valued at $355,000 after purchasing an additional 335 shares during the period. Forsta AP Fonden lifted its stake in shares of Marvell Technology by 9.5% in the 1st quarter. Forsta AP Fonden now owns 223,700 shares of the semiconductor company’s stock valued at $15,856,000 after purchasing an additional 19,400 shares during the period. Finally, Nvwm LLC lifted its stake in shares of Marvell Technology by 110.7% in the 1st quarter. Nvwm LLC now owns 41,028 shares of the semiconductor company’s stock valued at $2,908,000 after purchasing an additional 21,555 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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.