Marvell Technology (MRVL) to Release Quarterly Earnings on Wednesday

Marvell Technology (NASDAQ:MRVL) is expected to 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 that wish to register for the company’s conference call can do so using this link.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $85.83 on Tuesday. The stock has a fifty day simple moving average of $111.63 and a two-hundred day simple moving average of $93.59. Marvell Technology has a 1-year low of $53.19 and a 1-year high of $127.48. The firm has a market cap of $74.27 billion, a price-to-earnings ratio of -50.49, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.28%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock valued at $4,330,980 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

MRVL has been the subject of several research reports. Evercore ISI increased their price objective on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. KeyCorp raised their price target on Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Wells Fargo & Company raised their price target on Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Citigroup raised their price target on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $120.00 price target (up from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and an average 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.