Marvell Technology Group (MRVL) Declares $0.06 Dividend

Marvell Technology Group said on March 15, 2023 that its board of directors declared a regular quarterly dividend of $0.06 per share ($0.24 annualized). Previously, the company paid $0.06 per share.

Shares must be purchased before the ex-div date of April 5, 2023 to qualify for the dividend. Shareholders of record as of April 7, 2023 will receive the payment on April 26, 2023.

At the current share price of $40.36 / share, the stock's dividend yield is 0.59%. Looking back five years and taking a sample every week, the average dividend yield has been 0.77%, the lowest has been 0.26%, and the highest has been 1.67%. The standard deviation of yields is 0.35 (n=236).

The current dividend yield is 0.52 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is -1.26. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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Analyst Price Forecast Suggests 45.12% Upside

As of March 16, 2023, the average one-year price target for Marvell Technology Group is $58.57. The forecasts range from a low of $45.45 to a high of $105.00. The average price target represents an increase of 45.12% from its latest reported closing price of $40.36.

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The projected annual revenue for Marvell Technology Group is $6,165MM, an increase of 4.15%. The projected annual non-GAAP EPS is $2.12, a decrease of 2.30% from the prior forecast.

What is the Fund Sentiment?

There are 1590 funds or institutions reporting positions in Marvell Technology Group. This is a decrease of 17 owner(s) or 1.06% in the last quarter. Average portfolio weight of all funds dedicated to MRVL is 0.43%, a decrease of 8.14%. Total shares owned by institutions increased in the last three months by 0.65% to 798,440K shares. The put/call ratio of MRVL is 0.90, indicating a bullish outlook.

What are Large Shareholders Doing?

FBGRX - Fidelity Blue Chip Growth Fund holds 26,763K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 25,696K shares, representing an increase of 3.98%. The firm decreased its portfolio allocation in MRVL by 16.22% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 25,910K shares representing 3.02% ownership of the company. In it's prior filing, the firm reported owning 25,327K shares, representing an increase of 2.25%. The firm decreased its portfolio allocation in MRVL by 18.45% over the last quarter.

T. Rowe Price Investment Management holds 25,272K shares representing 2.95% ownership of the company. In it's prior filing, the firm reported owning 23,668K shares, representing an increase of 6.35%. The firm decreased its portfolio allocation in MRVL by 11.47% over the last quarter.

Bank Of America holds 19,777K shares representing 2.31% ownership of the company. In it's prior filing, the firm reported owning 21,738K shares, representing a decrease of 9.91%. The firm decreased its portfolio allocation in MRVL by 25.16% over the last quarter.

Price T Rowe Associates holds 18,789K shares representing 2.19% ownership of the company. In it's prior filing, the firm reported owning 16,743K shares, representing an increase of 10.89%. The firm decreased its portfolio allocation in MRVL by 4.88% over the last quarter.

Marvell Technology Background Information
(This description is provided by the company.)

Marvell Technology, Inc. develops and produces semiconductors and related technology. The Company offers security and networking platform, secure data processing, networking, and storage solutions. Marvell Technology serves customers worldwide

This story originally appeared on Fintel.