Marvell Technology (NASDAQ:MRVL) Given “Buy” Rating at Roth Mkm

Roth Mkm reissued their buy rating on shares of Marvell Technology (NASDAQ:MRVLFree Report) in a report published on Friday morning, Benzinga reports. Roth Mkm currently has a $95.00 price objective on the semiconductor company’s stock.

MRVL has been the subject of a number of other research reports. Raymond James lifted their target price on Marvell Technology from $62.00 to $78.00 and gave the stock an outperform rating in a report on Friday, January 19th. B. Riley reissued a buy rating and set a $95.00 target price (up previously from $85.00) on shares of Marvell Technology in a report on Monday, March 4th. TD Cowen lifted their target price on Marvell Technology from $75.00 to $90.00 and gave the stock an outperform rating in a report on Friday, March 8th. StockNews.com downgraded Marvell Technology from a hold rating to a sell rating in a report on Friday. Finally, Rosenblatt Securities reissued a buy rating and set a $100.00 target price on shares of Marvell Technology in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $79.96.

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Marvell Technology Trading Down 3.2 %

Shares of Marvell Technology stock opened at $67.88 on Friday. The business has a fifty day simple moving average of $70.40 and a two-hundred day simple moving average of $61.99. Marvell Technology has a 1 year low of $36.90 and a 1 year high of $85.76. The company has a market capitalization of $58.78 billion, a price-to-earnings ratio of -62.85, a P/E/G ratio of 5.13 and a beta of 1.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.21.

Marvell Technology (NASDAQ:MRVLGet Free Report) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS. Research analysts forecast that Marvell Technology will post 0.72 EPS for the current year.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be paid 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 -22.22%.

Marvell Technology announced that its board has authorized a stock buyback program on Thursday, March 7th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 4.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $68.20, for a total transaction of $68,200.00. Following the sale, the chief financial officer now directly owns 103,986 shares in the company, valued at $7,091,845.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $68.20, for a total value of $68,200.00. Following the sale, the chief financial officer now directly owns 103,986 shares in the company, valued at $7,091,845.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $67.98, for a total value of $339,900.00. Following the completion of the sale, the executive vice president now owns 119,117 shares in the company, valued at $8,097,573.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,000 shares of company stock worth $4,894,790. Insiders own 0.45% of the company’s stock.

Institutional Trading of Marvell Technology

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in Marvell Technology by 0.3% in the third quarter. FMR LLC now owns 129,418,936 shares of the semiconductor company’s stock valued at $7,005,447,000 after buying an additional 421,622 shares during the period. Vanguard Group Inc. lifted its stake in Marvell Technology by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 72,342,362 shares of the semiconductor company’s stock valued at $4,362,968,000 after buying an additional 1,890,753 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in Marvell Technology by 118,898.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 62,452,538 shares of the semiconductor company’s stock valued at $2,313,242,000 after buying an additional 62,400,056 shares during the period. Capital Research Global Investors lifted its stake in Marvell Technology by 0.5% in the fourth quarter. Capital Research Global Investors now owns 35,791,266 shares of the semiconductor company’s stock valued at $2,158,601,000 after buying an additional 185,479 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its stake in Marvell Technology by 6.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 25,272,190 shares of the semiconductor company’s stock valued at $936,082,000 after buying an additional 1,603,857 shares during the period. 83.51% of the stock is currently owned by institutional investors.

About Marvell Technology

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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.

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