Marvell Technology, Inc. (NASDAQ:MRVL) Expected to Announce Earnings of $0.38 Per Share

Equities analysts expect Marvell Technology, Inc. (NASDAQ:MRVL) to announce $0.38 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Marvell Technology’s earnings. The lowest EPS estimate is $0.38 and the highest is $0.39. Marvell Technology posted earnings per share of $0.25 during the same quarter last year, which suggests a positive year over year growth rate of 52%. The company is scheduled to issue its next earnings results on Thursday, December 2nd.

On average, analysts expect that Marvell Technology will report full-year earnings of $1.44 per share for the current fiscal year, with EPS estimates ranging from $1.42 to $1.48. For the next year, analysts anticipate that the firm will post earnings of $1.89 per share, with EPS estimates ranging from $1.80 to $1.95. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Marvell Technology.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Wednesday, August 25th. The semiconductor company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. Marvell Technology had a positive return on equity of 6.40% and a negative net margin of 10.74%. During the same quarter in the prior year, the company posted $0.21 earnings per share.

MRVL has been the subject of several research reports. Susquehanna reiterated a “buy” rating and issued a $72.00 target price (up from $64.00) on shares of Marvell Technology in a research report on Wednesday, August 25th. B. Riley increased their target price on Marvell Technology from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, August 23rd. Bank of America raised their price objective on Marvell Technology from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, August 27th. Wells Fargo & Company raised their price objective on Marvell Technology from $50.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, August 27th. Finally, Barclays raised their price objective on Marvell Technology from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, August 27th. Five research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $67.38.

Marvell Technology stock traded down $0.54 during trading hours on Monday, hitting $63.07. The stock had a trading volume of 4,056,922 shares, compared to its average volume of 8,457,097. The company has a quick ratio of 1.25, a current ratio of 1.50 and a debt-to-equity ratio of 0.12. The stock has a market cap of $51.94 billion, a price-to-earnings ratio of -131.40, a P/E/G ratio of 3.23 and a beta of 1.07. Marvell Technology has a one year low of $35.30 and a one year high of $64.07. The business’s 50 day simple moving average is $60.80 and its 200-day simple moving average is $53.59.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 27th. Shareholders of record on Monday, October 11th will be paid a $0.06 dividend. The ex-dividend date is Thursday, October 7th. This represents a $0.24 dividend on an annualized basis and a yield of 0.38%. Marvell Technology’s dividend payout ratio (DPR) is presently 41.38%.

In other news, CEO Matthew J. Murphy sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 15th. The stock was sold at an average price of $62.40, for a total value of $1,248,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael G. Strachan sold 5,000 shares of Marvell Technology stock in a transaction on Friday, September 10th. The stock was sold at an average price of $61.86, for a total value of $309,300.00. The disclosure for this sale can be found here. Insiders sold 65,150 shares of company stock valued at $3,868,125 in the last three months. Insiders own 0.33% of the company’s stock.

A number of institutional investors have recently modified their holdings of MRVL. Clearview Wealth Advisors LLC bought a new stake in Marvell Technology during the second quarter worth $27,000. Deseret Mutual Benefit Administrators bought a new stake in Marvell Technology during the second quarter worth $28,000. Delta Asset Management LLC TN bought a new stake in Marvell Technology during the second quarter worth $29,000. Global Wealth Management Investment Advisory Inc. raised its stake in shares of Marvell Technology by 400.0% in the second quarter. Global Wealth Management Investment Advisory Inc. now owns 500 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 400 shares during the period. Finally, Glassman Wealth Services bought a new stake in shares of Marvell Technology in the second quarter valued at $33,000. Institutional investors and hedge funds own 84.98% of the company’s stock.

About Marvell Technology

Marvell Technology, Inc engages in the provision of data infrastructure semiconductor solutions. It offers compute, networking, storage and custom related solutions. The company was founded in 1995 and is headquartered in Wilmington, DE.

Further Reading: How Does the Quiet Period Work?

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

Earnings History and Estimates for Marvell Technology (NASDAQ:MRVL)

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.