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

Marvell Technology (NASDAQ:MRVL) will likely be issuing its quarterly earnings data 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. Parties interested in participating in the company’s conference call can do so using this link.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $93.00 on Wednesday. The company has a 50 day moving average price of $112.66 and a 200-day moving average price of $92.99. Marvell Technology has a 52 week low of $53.19 and a 52 week high of $127.48. The firm has a market capitalization of $80.47 billion, a PE ratio of -54.71, a P/E/G ratio of 1.61 and a beta of 1.40. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

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 paid a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.26%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the sale, the chief financial officer now owns 112,711 shares in the company, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the sale, the executive vice president now owns 93,931 shares in the company, valued at $11,685,016.40. This represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on MRVL. Cantor Fitzgerald boosted their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Barclays restated an “overweight” rating on shares of Marvell Technology in a research report on Friday, February 14th. Craig Hallum boosted their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Stifel Nicolaus boosted their target price on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Wells Fargo & Company boosted their target price on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.