Marvell Technology recently reported its quarterly earnings data, with its revenue for the quarter increasing by 5.6% compared to the same quarter in the previous year. Although the company missed the consensus estimate of $0.47 by $0.01, its return on equity was positive at 8.46%. Marvell Technology has announced a quarterly dividend, which will be paid on April 26th. Shareholders of record on April 7th will receive a dividend of $0.06 per share, which represents a $0.24 annualized dividend and a yield of 0.58%. The ex-dividend date is April 5th, and the firm’s dividend payout ratio is -126.32%. The company provides data infrastructure semiconductor solutions, including compute, networking, storage, and custom solutions. Founded in 1995, Marvell Technology is headquartered in Wilmington, Delaware.
First Hawaiian Bank has increased its shares in Marvell Technology, Inc. by 27.6%, according to the company’s latest Form 13F filing. Other institutional investors, such as Guardian Wealth Advisors, MADDEN SECURITIES Corp, TimeScale Financial Inc., Asset Dedication LLC, and AlphaCentric Advisors LLC, have either added to or reduced their stakes in MRVL. At present, 81.28% of the stock is owned by institutional investors and hedge funds.
Several research analyst reports have been conducted on MRVL. Oppenheimer reduced the company’s price target from $80.00 to $70.00, Deutsche Bank Aktiengesellschaft reduced it from $55.00 to $50.00 and set a “buy” rating for the company, and Susquehanna Bancshares reduced its price target to $60.00. Barclays cut its price objective from $55.00 to $45.00 and set an “overweight” rating for the company, while Morgan Stanley raised its price objective from $41.00 to $45.00. MarketBeat data shows that the stock has an average rating of “Moderate Buy” and an average target price of $58.54.
It’s worth noting that insiders have been placing their bets on Marvell Technology as well.
Marvell Technology, Inc. insiders have been selling company stock recently. Executive Vice President Dan Christman sold 6,778 shares at an average price of $46.05 on February 9th, totaling $312,126.90. Following the sale, Christman owns 85,425 shares valued at $3,933,821.25. Additionally, Muhammad Raghib Hussain sold 46,200 shares on January 31st at an average price of $42.22, for a total transaction of $1,950,564.00. After the sale, Hussain owns 757,342 shares valued at approximately $31,974,979.24. Insider selling over the last quarter has totaled 68,978 shares with a value of $2,881,891. Currently, 0.45% of the stock is owned by insiders.
On Friday, MRVL shares opened at $41.07. The company’s stock has a 52-week low of $33.75 and a 52-week high of $76.59. Marvell Technology’s market cap is $35.19 billion, and it has a P/E ratio of -216.13, a P/E/G ratio of 13.50, and a beta of 1.47. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.37, and a quick ratio of 0.93. Its 50-day simple moving average is $42.98, and its 200-day simple moving average is $41.97.
It’s worth noting that the stock has had a slight dip recently, with a 2.9% decrease.
Marvell Technology recently reported its quarterly earnings data on March 2nd. The semiconductor company’s EPS for the quarter was $0.46, missing the consensus estimate of $0.47 by $0.01. The firm’s revenue for the quarter was $1.42 billion, which exceeded the estimated $1.41 billion. Although the firm’s net margin was negative at 2.76%, its return on equity was positive at 8.46%. Last year, the company earned $0.35 earnings per share for the same quarter. The firm’s revenue for the quarter increased by 5.6% compared to the same quarter in the previous year. Research analysts predict that Marvell Technology will post an EPS of 0.91 for the current fiscal year.
Marvell Technology has also announced a quarterly dividend, which will be paid on April 26th. Shareholders of record on April 7th will receive a dividend of $0.06 per share, which represents a $0.24 annualized dividend and a yield of 0.58%. The ex-dividend date is April 5th, and the firm’s dividend payout ratio is -126.32%.
Marvell Technology provides data infrastructure semiconductor solutions, including compute, networking, storage, and custom solutions. The company was founded in 1995 and is headquartered in Wilmington, Delaware.
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