Fintel reports that on April 19, 2023, Stifel maintained coverage of Marvell Technology (NASDAQ:MRVL) with a Buy recommendation.
Analyst Price Forecast Suggests 40.62% Upside
As of April 6, 2023, the average one-year price target for Marvell Technology is $57.67. The forecasts range from a low of $45.45 to a high of $105.00. The average price target represents an increase of 40.62% from its latest reported closing price of $41.01.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Marvell Technology is $6,174MM, an increase of 4.30%. The projected annual non-GAAP EPS is $2.11, a decrease of 0.38% from the prior forecast.
Marvell Technology Declares $0.06 Dividend
On March 15, 2023 the company declared a regular quarterly dividend of $0.06 per share ($0.24 annualized). Shareholders of record as of April 7, 2023 will receive the payment on April 26, 2023. Previously, the company paid $0.06 per share.
At the current share price of $41.01 / 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 0.76%, the lowest has been 0.26%, and the highest has been 1.67%. The standard deviation of yields is 0.34 (n=236).
The current dividend yield is 0.51 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.
What are Other Shareholders Doing?
Two Sigma Securities holds 37K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 36K shares, representing an increase of 3.19%. The firm decreased its portfolio allocation in MRVL by 11.58% over the last quarter.
WAYEX - WAYCROSS LONG holds 12K shares representing 0.00% ownership of the company.
VCBCX - Blue Chip Growth Fund holds 57K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 57K shares, representing an increase of 0.50%. The firm decreased its portfolio allocation in MRVL by 3.20% over the last quarter.
Comerica Bank holds 94K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 35K shares, representing an increase of 63.08%. The firm decreased its portfolio allocation in MRVL by 99.73% over the last quarter.
Guggenheim Capital holds 170K shares representing 0.02% ownership of the company. In it's prior filing, the firm reported owning 172K shares, representing a decrease of 1.35%. The firm decreased its portfolio allocation in MRVL by 34.89% over the last quarter.
What is the Fund Sentiment?
There are 1590 funds or institutions reporting positions in Marvell Technology. This is a decrease of 13 owner(s) or 0.81% in the last quarter. Average portfolio weight of all funds dedicated to MRVL is 0.49%, an increase of 6.67%. Total shares owned by institutions decreased in the last three months by 0.08% to 796,893K shares. The put/call ratio of MRVL is 1.01, indicating a bearish outlook.
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.