Marvell Technology, Inc. (MRVL) to Issue Quarterly Dividend of $0.06 on October 29th

Marvell Technology, Inc. (NASDAQ:MRVL – Get Free Report) announced a quarterly dividend on Friday, September 25th. Stockholders of record on Friday, October 9th will be paid a dividend of $0.06 per share by the semiconductor company on Thursday, October 29th. This represents a $0.24 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, October 9th.

Marvell Technology has a dividend payout ratio of 6.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Marvell Technology to earn $5.44 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 4.4%.

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Marvell Technology Price Performance

Shares of Marvell Technology stock opened at $287.01 on Wednesday. The firm has a market cap of $251.68 billion, a PE ratio of 94.72, a PEG ratio of 2.62 and a beta of 2.26. The stock has a 50 day moving average of $231.21 and a 200 day moving average of $207.54. The company has a current ratio of 3.17, a quick ratio of 2.62 and a debt-to-equity ratio of 0.27. Marvell Technology has a 12 month low of $70.68 and a 12 month high of $329.88.

Marvell Technology (NASDAQ:MRVL – Get Free Report) last released its quarterly earnings data on Thursday, August 27th. The semiconductor company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.72 billion. Marvell Technology had a return on equity of 13.57% and a net margin of 27.93%.The company’s revenue was up 36.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS. Marvell Technology has set its Q3 2027 guidance at 1.050-1.150 EPS. On average, research analysts expect that Marvell Technology will post 3.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MRVL. Loop Capital upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Tuesday, June 16th. Stifel Nicolaus increased their price objective on shares of Marvell Technology from $321.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. BMO Capital Markets assumed coverage on shares of Marvell Technology in a research note on Thursday, August 20th. They issued an “outperform” rating and a $250.00 price objective for the company. HC Wainwright restated a “buy” rating on shares of Marvell Technology in a report on Tuesday, August 25th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $365.00 target price on shares of Marvell Technology in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $294.59.

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About Marvell Technology

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Marvell Technology, Inc (NASDAQ: MRVL) is a fabless semiconductor company that develops technologies for data infrastructure. Its products are used to move, process, store and secure data across cloud data centers, enterprise networks, telecommunications systems, automotive platforms and other communications applications.

The company’s portfolio includes custom application-specific integrated circuits, data processing and networking solutions, Ethernet products, storage controllers, optical and electro-optical components, and connectivity technologies.

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