Marvell Technology (NASDAQ:MRVL) posted its quarterly earnings results on Sunday. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02, RTT News reports. Marvell Technology had a negative net margin of 9.34% and a positive return on equity of 4.71%. During the same quarter in the prior year, the business posted $0.18 earnings per share.
Shares of NASDAQ MRVL traded up $2.22 during trading on Tuesday, hitting $50.49. 1,119,203 shares of the company traded hands, compared to its average volume of 10,220,869. Marvell Technology has a 1 year low of $32.53 and a 1 year high of $55.70. The stock has a 50-day moving average of $46.93. The company has a market cap of $34.12 billion, a price-to-earnings ratio of -119.28, a P/E/G ratio of 2.26 and a beta of 1.10. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.50 and a quick ratio of 1.25.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 28th. Stockholders of record on Friday, July 9th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, July 8th. This represents a $0.24 annualized dividend and a dividend yield of 0.48%. Marvell Technology’s dividend payout ratio is presently 41.38%.
In other news, CEO Matthew J. Murphy sold 7,500 shares of the business’s stock in a transaction on Thursday, April 15th. The shares were sold at an average price of $48.66, for a total transaction of $364,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jean X. Hu sold 16,071 shares of the business’s stock in a transaction on Thursday, April 15th. The shares were sold at an average price of $48.54, for a total transaction of $780,086.34. Following the sale, the chief financial officer now directly owns 73,182 shares of the company’s stock, valued at $3,552,254.28. The disclosure for this sale can be found here. Insiders have sold a total of 51,071 shares of company stock valued at $2,357,411 over the last three months. Corporate insiders own 0.29% of the company’s stock.
Marvell Technology Company Profile
Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; application specific integrated circuits; and printer SoC products and application processors.
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