Marvell Technology (NASDAQ:MRVL) Earns “Outperform” Rating from William Blair

William Blair restated their outperform rating on shares of Marvell Technology (NASDAQ:MRVL) in a report published on Tuesday morning, Zacks.com reports.

Several other research firms have also recently weighed in on MRVL. Morgan Stanley raised their target price on shares of Marvell Technology from $44.00 to $49.00 and gave the company an equal weight rating in a research note on Monday, March 1st. B. Riley raised their target price on shares of Marvell Technology from $56.00 to $66.00 and gave the company a buy rating in a research note on Tuesday. Susquehanna Bancshares reissued a buy rating on shares of Marvell Technology in a research note on Thursday, June 3rd. Rosenblatt Securities raised their target price on shares of Marvell Technology from $60.00 to $70.00 and gave the company a buy rating in a research note on Tuesday. Finally, Craig Hallum raised their target price on shares of Marvell Technology from $52.00 to $63.00 and gave the company a buy rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $54.70.

Shares of MRVL opened at $51.80 on Tuesday. The company has a market cap of $35.00 billion, a PE ratio of -123.33, a P/E/G ratio of 2.32 and a beta of 1.10. Marvell Technology has a twelve month low of $32.53 and a twelve month high of $55.70. The business’s 50 day simple moving average is $47.06. The company has a quick ratio of 1.25, a current ratio of 1.50 and a debt-to-equity ratio of 0.12.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Sunday, June 6th. The semiconductor company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.02. Marvell Technology had a negative net margin of 8.13% and a positive return on equity of 5.25%. During the same quarter in the previous year, the company posted $0.18 earnings per share. Equities research analysts forecast that Marvell Technology will post 1.02 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 28th. Investors of record on Friday, July 9th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Thursday, July 8th. Marvell Technology’s dividend payout ratio (DPR) is presently 41.38%.

In other Marvell Technology news, CEO Matthew J. Murphy sold 20,000 shares of Marvell Technology stock in a transaction dated Monday, May 17th. The stock was sold at an average price of $42.66, for a total value of $853,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Matthew J. Murphy sold 7,500 shares of Marvell Technology stock in a transaction dated Thursday, April 15th. The shares were sold at an average price of $48.66, for a total value of $364,950.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,071 shares of company stock worth $2,357,411. Company insiders own 0.33% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its holdings in shares of Marvell Technology by 1.4% during the fourth quarter. FMR LLC now owns 100,768,315 shares of the semiconductor company’s stock worth $4,790,526,000 after purchasing an additional 1,375,897 shares during the last quarter. BlackRock Inc. boosted its holdings in Marvell Technology by 4.8% in the first quarter. BlackRock Inc. now owns 61,356,750 shares of the semiconductor company’s stock valued at $3,005,256,000 after acquiring an additional 2,835,624 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Marvell Technology by 17.8% in the first quarter. Goldman Sachs Group Inc. now owns 17,017,345 shares of the semiconductor company’s stock valued at $833,510,000 after acquiring an additional 2,572,268 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Marvell Technology by 9.7% in the first quarter. Ameriprise Financial Inc. now owns 12,467,907 shares of the semiconductor company’s stock valued at $610,662,000 after acquiring an additional 1,104,188 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Marvell Technology by 18.6% in the first quarter. Allianz Asset Management GmbH now owns 11,230,867 shares of the semiconductor company’s stock valued at $550,088,000 after acquiring an additional 1,758,501 shares during the last quarter. Hedge funds and other institutional investors own 89.31% of the company’s stock.

About Marvell Technology

Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; application specific integrated circuits; and printer SoC products and application processors.

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Analyst Recommendations for Marvell Technology (NASDAQ:MRVL)

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