Marvell Technology (NASDAQ:MRVL) Given New $65.00 Price Target at Deutsche Bank Aktiengesellschaft

Marvell Technology (NASDAQ:MRVL – Get Rating) had its target price raised by Deutsche Bank Aktiengesellschaft from $50.00 to $65.00 in a research report report published on Friday, The Fly reports.

Other analysts also recently issued research reports about the company. Susquehanna reiterated a positive rating and set a $50.00 price target on shares of Marvell Technology in a research note on Thursday, March 9th. Credit Suisse Group lowered their price target on Marvell Technology from $56.00 to $53.00 and set an outperform rating on the stock in a report on Friday, March 3rd. Stifel Nicolaus reduced their price objective on shares of Marvell Technology from $58.00 to $56.00 and set a buy rating for the company in a research note on Wednesday, April 19th. StockNews.com assumed coverage on shares of Marvell Technology in a research note on Thursday, May 18th. They issued a hold rating on the stock. Finally, Citigroup dropped their target price on shares of Marvell Technology from $65.00 to $58.00 in a report on Friday, March 3rd. Three investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $58.58.

Marvell Technology Stock Performance

MRVL opened at $49.47 on Friday. Marvell Technology has a twelve month low of $33.75 and a twelve month high of $61.50. The stock has a market cap of $42.50 billion, a PE ratio of -260.37, a price-to-earnings-growth ratio of 16.16 and a beta of 1.44. The business’s 50 day moving average is $41.16 and its 200-day moving average is $41.52. The company has a current ratio of 1.37, a quick ratio of 0.93 and a debt-to-equity ratio of 0.25.

Marvell Technology (NASDAQ:MRVL – Get Rating) last released its earnings results on Thursday, May 25th. The semiconductor company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. Marvell Technology had a negative net margin of 2.76% and a positive return on equity of 8.46%. The business’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 EPS. On average, analysts predict that Marvell Technology will post 0.85 earnings per share for the current year.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 26th. Shareholders of record on Friday, April 7th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a $0.24 annualized dividend and a yield of 0.49%. Marvell Technology’s dividend payout ratio is currently -126.32%.

Insiders Place Their Bets

In other Marvell Technology news, EVP Dean E. Jr. Jarnac sold 6,000 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $45.00, for a total transaction of $270,000.00. Following the completion of the transaction, the executive vice president now directly owns 12,879 shares in the company, valued at $579,555. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.45% of the company’s stock.

Institutional Trading of Marvell Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in MRVL. Moneta Group Investment Advisors LLC increased its stake in shares of Marvell Technology by 118,898.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 62,452,538 shares of the semiconductor company’s stock valued at $2,313,242,000 after buying an additional 62,400,056 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Marvell Technology by 123.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 42,009,812 shares of the semiconductor company’s stock valued at $1,819,025,000 after buying an additional 23,220,407 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Marvell Technology by 2,626.8% in the third quarter. Fisher Asset Management LLC now owns 11,556,965 shares of the semiconductor company’s stock valued at $495,909,000 after buying an additional 11,133,134 shares in the last quarter. Norges Bank acquired a new stake in shares of Marvell Technology in the fourth quarter valued at $188,566,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Marvell Technology by 31.4% in the first quarter. Ameriprise Financial Inc. now owns 16,444,577 shares of the semiconductor company’s stock valued at $712,054,000 after buying an additional 3,934,276 shares in the last quarter. 81.28% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Company Profile

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Marvell Technology, Inc engages in the provision of data infrastructure semiconductor solutions. It offers compute, networking, storage, and custom solutions. The firm designs, develops, and sells integrated circuits. The company was founded by Wei Li Dai, Pantas Sutardja, and Sehat Sutardja in 1995 and is headquartered in Wilmington, DE.