[ad_1]
Wall Street analysts expect Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) to post $1.43 billion in sales for the current fiscal quarter, according to Zacks. Eleven analysts have provided estimates for Marvell Technology’s earnings, with the highest sales estimate coming in at $1.44 billion and the lowest estimate coming in at $1.42 billion. Marvell Technology posted sales of $832.28 million in the same quarter last year, which suggests a positive year-over-year growth rate of 71.8%. The firm is expected to announce its next earnings report on Monday, January 1st.
On average, analysts expect that Marvell Technology will report full year sales of $6.14 billion for the current year, with estimates ranging from $6.01 billion to $6.55 billion. For the next financial year, analysts expect that the company will report sales of $7.17 billion, with estimates ranging from $6.91 billion to $7.42 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Marvell Technology.
Marvell Technology (NASDAQ:MRVL – Get Rating) last released its quarterly earnings data on Thursday, March 3rd. The semiconductor company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Marvell Technology had a negative net margin of 9.44% and a positive return on equity of 5.60%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company earned $0.21 earnings per share. The firm’s revenue for the quarter was up 68.3% on a year-over-year basis.
MRVL has been the subject of a number of recent analyst reports. Rosenblatt Securities lifted their price objective on shares of Marvell Technology from $120.00 to $125.00 and gave the company a “buy” rating in a report on Friday, March 4th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Marvell Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, March 4th. Wells Fargo & Company dropped their target price on shares of Marvell Technology from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, March 4th. TheStreet lowered shares of Marvell Technology from a “b-” rating to a “c” rating in a research report on Friday, March 4th. Finally, Zacks Investment Research lowered shares of Marvell Technology from a “strong-buy” rating to a “hold” rating and set a $76.00 price target on the stock. in a research report on Wednesday, February 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, Marvell Technology presently has a consensus rating of “Buy” and a consensus target price of $97.31.
In related news, CEO Matthew J. Murphy sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 15th. The shares were sold at an average price of $72.43, for a total transaction of $2,172,900.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jean X. Hu sold 22,277 shares of the company’s stock in a transaction that occurred on Tuesday, January 18th. The stock was sold at an average price of $79.94, for a total transaction of $1,780,823.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 195,106 shares of company stock worth $14,143,738. 0.33% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. SkyView Investment Advisors LLC acquired a new position in Marvell Technology during the 4th quarter worth approximately $26,000. HM Payson & Co. boosted its holdings in shares of Marvell Technology by 52.5% in the 3rd quarter. HM Payson & Co. now owns 453 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 156 shares in the last quarter. Pittenger & Anderson Inc. acquired a new position in shares of Marvell Technology in the 4th quarter valued at $27,000. Covestor Ltd acquired a new position in shares of Marvell Technology in the 4th quarter valued at $28,000. Finally, TCI Wealth Advisors Inc. boosted its holdings in shares of Marvell Technology by 106.0% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 484 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 249 shares in the last quarter. Institutional investors own 82.49% of the company’s stock.
MRVL traded up $0.91 on Friday, reaching $61.64. The stock had a trading volume of 298,443 shares, compared to its average volume of 9,838,831. Marvell Technology has a 12-month low of $40.79 and a 12-month high of $93.85. The company has a current ratio of 1.80, a quick ratio of 1.28 and a debt-to-equity ratio of 0.29. The business’s 50-day moving average price is $68.91 and its two-hundred day moving average price is $72.84. The company has a market cap of $52.26 billion, a P/E ratio of -113.93, a price-to-earnings-growth ratio of 2.18 and a beta of 1.20.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 27th. Stockholders of record on Friday, April 8th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Thursday, April 7th. Marvell Technology’s dividend payout ratio (DPR) is -44.44%.
About Marvell Technology (Get Rating)
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; ASIC; and printer System-on-a-Chip products and application processors.
Featured Articles
Get a free copy of the Zacks research report on Marvell Technology (MRVL)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Want More Great Investing Ideas?
Receive News & Ratings for Marvell Technology Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Marvell Technology and related companies with MarketBeat.com’s FREE daily email newsletter.
[ad_2]
Source link