Marvell Technology (NASDAQ:MRVL) Now Covered by Analysts at Loop Capital

Loop Capital assumed coverage on shares of Marvell Technology (NASDAQ:MRVL) in a research report sent to investors on Monday morning, MarketBeat.com reports. The brokerage issued a hold rating and a $95.00 price objective on the semiconductor company’s stock.

Other analysts have also recently issued research reports about the company. TD Cowen upgraded Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Piper Sandler reiterated an “overweight” rating and set a $100.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. The Goldman Sachs Group lifted their price target on shares of Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Needham & Company LLC reissued a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.77.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $92.25 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $81.75 billion, a PE ratio of -83.11, a price-to-earnings-growth ratio of 4.08 and a beta of 1.44. The firm’s 50 day moving average price is $77.20 and its 200-day moving average price is $72.14. Marvell Technology has a twelve month low of $50.35 and a twelve month high of $95.09.

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

Marvell Technology Announces Dividend

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

Insider Transactions at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the sale, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Monday, October 21st. The stock was 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 directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $120,750.00. Following the transaction, the chief financial officer now directly owns 110,253 shares in the company, valued at $8,875,366.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 261,000 shares of company stock worth $20,330,835. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Several large investors have recently modified their holdings of MRVL. Strategic Investment Solutions Inc. IL bought a new position in shares of Marvell Technology during the second quarter valued at approximately $32,000. Quarry LP bought a new stake in Marvell Technology during the 2nd quarter valued at $32,000. Mark Sheptoff Financial Planning LLC bought a new stake in Marvell Technology during the 1st quarter valued at $35,000. Whittier Trust Co. increased its holdings in shares of Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 210 shares during the period. Finally, Briaud Financial Planning Inc bought a new position in shares of Marvell Technology in the 3rd quarter worth $43,000. Institutional investors 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.