Marvell Technology (MRVL) Expected to Announce Quarterly Earnings on Wednesday

Marvell Technology (NASDAQ:MRVL) is expected to announce its earnings results after the market closes on Wednesday, March 5th. Analysts expect the company to announce earnings of $0.59 per share and revenue of $1.80 billion for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Marvell Technology Trading Down 5.0 %

MRVL stock opened at $93.00 on Wednesday. The firm’s fifty day simple moving average is $112.66 and its two-hundred day simple moving average is $92.99. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $80.47 billion, a price-to-earnings ratio of -54.71, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. Marvell Technology has a twelve month low of $53.19 and a twelve month high of $127.48.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued 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 was Friday, January 10th. Marvell Technology’s payout ratio is presently -14.12%.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the transaction, the executive vice president now owns 97,244 shares in the company, valued at approximately $11,912,390. This represents a 5.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the transaction, the chief financial officer now owns 112,711 shares in the company, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock valued at $4,330,980 in the last three months. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on MRVL shares. Barclays restated an “overweight” rating on shares of Marvell Technology in a report on Friday, February 14th. The Goldman Sachs Group upped their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Susquehanna upped their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a report on Wednesday, December 4th. Loop Capital upped their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $127.60.

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.