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

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

Several other equities research analysts have also issued reports on the stock. StockNews.com lowered shares of Marvell Technology from a hold rating to a sell rating in a research report on Friday. Raymond James increased their price objective 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. KeyCorp lowered their price target on shares of Marvell Technology from $95.00 to $90.00 and set an overweight rating for the company in a report on Monday, April 8th. UBS Group raised their price target on shares of Marvell Technology from $70.00 to $83.00 and gave the company a buy rating in a report on Monday, February 26th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $95.00 price target on shares of Marvell Technology in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, Marvell Technology currently has a consensus rating of Moderate Buy and an average target price of $79.96.

Marvell Technology Stock Performance

Shares of MRVL opened at $67.88 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69. The company has a market capitalization of $58.78 billion, a price-to-earnings ratio of -62.85, a PEG ratio of 5.13 and a beta of 1.50. The company’s 50 day simple moving average is $70.40 and its 200 day simple moving average is $61.99. Marvell Technology has a 1 year low of $36.90 and a 1 year high of $85.76.

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

Marvell Technology announced that its board has authorized a share buyback 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 buy up to 4.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Marvell Technology Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $67.67, for a total value of $2,030,100.00. Following the sale, the chief executive officer now owns 762,929 shares of the company’s stock, valued at approximately $51,627,405.43. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 762,929 shares of the company’s stock, valued at approximately $51,627,405.43. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $67.98, for a total transaction of $339,900.00. Following the transaction, the executive vice president now directly owns 119,117 shares in the company, valued at approximately $8,097,573.66. The disclosure for this sale can be found here. Insiders have sold a total of 73,000 shares of company stock valued at $4,894,790 in the last quarter. Company insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Hedge funds have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its stake in shares of Marvell Technology by 43.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,043,353 shares of the semiconductor company’s stock worth $381,257,000 after purchasing an additional 2,142,391 shares during the last quarter. Kingswood Wealth Advisors LLC grew its stake in shares of Marvell Technology by 328.3% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 23,949 shares of the semiconductor company’s stock worth $1,296,000 after purchasing an additional 18,357 shares during the last quarter. Fred Alger Management LLC boosted its holdings in shares of Marvell Technology by 2.4% in the third quarter. Fred Alger Management LLC now owns 4,036,564 shares of the semiconductor company’s stock worth $218,499,000 after buying an additional 95,003 shares during the period. NewEdge Wealth LLC boosted its holdings in shares of Marvell Technology by 15.6% in the third quarter. NewEdge Wealth LLC now owns 7,197 shares of the semiconductor company’s stock worth $390,000 after buying an additional 973 shares during the period. Finally, Montag A & Associates Inc. boosted its holdings in shares of Marvell Technology by 15.8% in the third quarter. Montag A & Associates Inc. now owns 64,837 shares of the semiconductor company’s stock worth $3,510,000 after buying an additional 8,836 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

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.