Marvell Technology (NASDAQ:MRVL) Earns Hold Rating from Analysts at Loop Capital

Loop Capital started coverage on shares of Marvell Technology (NASDAQ:MRVL) in a research report report published on Monday, Marketbeat.com reports. The firm issued a hold rating and a $95.00 price target on the semiconductor company’s stock.

Several other equities analysts have also weighed in on MRVL. Piper Sandler reaffirmed an “overweight” rating and set a $100.00 target price on shares of Marvell Technology in a report on Friday, August 30th. The Goldman Sachs Group increased their price target on Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a report on Friday, August 30th. Barclays increased their price target on shares of Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Stifel Nicolaus restated a “buy” rating and issued a $95.00 target price (up previously from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Finally, Evercore ISI boosted their target price on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $91.77.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $90.70 on Monday. The stock has a market cap of $80.38 billion, a PE ratio of -81.71, a price-to-earnings-growth ratio of 4.03 and a beta of 1.44. Marvell Technology has a 1 year low of $50.35 and a 1 year high of $95.09. The firm has a fifty day moving average price of $78.45 and a 200-day moving average price of $72.56. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the business posted $0.18 EPS. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. Equities analysts anticipate that Marvell Technology will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is -21.62%.

Insider Buying and Selling

In other news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total transaction of $177,075.00. Following the transaction, the executive vice president now directly owns 22,494 shares in the company, valued at approximately $1,593,250.02. This trade represents a 10.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the sale, the executive vice president now owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. This trade represents a 5.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 259,500 shares of company stock worth $20,230,710 in the last ninety days. 0.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MRVL. True Wealth Design LLC boosted its stake in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying an additional 326 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Marvell Technology during the 2nd quarter worth approximately $32,000. Quarry LP acquired a new stake in Marvell Technology during the 2nd quarter worth approximately $32,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Marvell Technology in the 1st quarter valued at approximately $35,000. Finally, Whittier Trust Co. increased its holdings in shares of Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

About Marvell Technology

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.