Marvell Technology, Inc. Plans Quarterly Dividend of $0.06 (NASDAQ:MRVL)

Marvell Technology, Inc. (NASDAQ:MRVL) announced a quarterly dividend on Friday, March 21st, RTT News reports. Shareholders of record on Friday, April 11th will be given a dividend of 0.06 per share by the semiconductor company on Thursday, May 1st. This represents a $0.24 dividend on an annualized basis and a yield of 0.34%.

Marvell Technology has a dividend payout ratio of 6.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Marvell Technology to earn $2.00 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 12.0%.

Marvell Technology Trading Down 0.1 %

NASDAQ:MRVL opened at $70.39 on Friday. The company has a market capitalization of $60.96 billion, a PE ratio of -41.41, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology has a 52-week low of $53.19 and a 52-week high of $127.48. The stock has a fifty day simple moving average of $99.06 and a 200-day simple moving average of $93.52. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the sale, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at $2,138,125. The trade was a 4.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the transaction, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,685 shares of company stock valued at $4,026,768 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the subject of several research reports. Cantor Fitzgerald lifted their price objective on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. William Blair raised Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. TD Cowen dropped their price objective on Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Susquehanna upped their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. Finally, Roth Capital set a $100.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

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.