Marvell Technology Group (MRVL) Declares $0.06 Dividend

Marvell Technology Group said on March 15, 2023 that its board of directors had 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 be eligible for the dividend. Shareholders of record on April 7, 2023 will receive payment on April 26, 2023.

At the current share price of $40.36/share, the dividend yield of the stock is 0.59%. Looking back five years and taking a sample each week, the average dividend yield was 0.77%, the lowest 0.26% and the highest 1.67%. The standard deviation of returns 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 as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into a payout ratio of zero to 0.5.

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

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Analyst price forecast suggests 45.12% upside

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

Check out our ranking of the companies with the biggest upward price target.

The expected annual revenue for Marvell Technology Group is $6,165 million, an increase of 4.15%. Projected annual non-GAAP EPS is $2.12, down 2.30% from the previous forecast.

What is fund sentiment?

There are 1590 funds or institutions reporting positions in Marvell Technology Group. This is a decrease of 17 owners or 1.06% in the last quarter. Average portfolio weight of all funds dedicated to MRVL is 0.43%, a decrease of 8.14%. The total number of shares held by institutions has increased over the past three months by 0.65% to 798,440,000 shares. MRVL’s put/call ratio is 0.90, indicating a bullish outlook.

What do major shareholders do?

FBGRX – Fidelity Blue Chip Growth Fund holds 26,763,000 shares representing 3.12% ownership of the company. In its previous filing, the company stated that it holds 25,696,000 shares, representing
a raise
of 3.98%. The company

decreases

its portfolio allocation in MRVL of 16.22% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 25,910,000 shares representing 3.02% ownership of the company. In its previous filing, the company stated that it holds 25,327,000 shares, representing
a raise
2.25%. The company

decreases

its portfolio allocation in MRVL of 18.45% over the last quarter.

T. Rowe Price Investment Management owns 25,272,000 shares representing 2.95% ownership of the company. In its previous filing, the company stated that it holds 23,668,000 shares, representing
a raise
6.35%. The company

decreases

its portfolio allocation in MRVL of 11.47% over the last quarter.

Bank Of America holds 19,777,000 shares representing 2.31% ownership of the company. In its previous filing, the company stated that it holds 21,738,000 shares, representing
a decrease
of 9.91%. The company

decreases

its portfolio allocation in MRVL of 25.16% over the last quarter.

Price T Rowe Associates owns 18,789,000 shares representing 2.19% ownership of the company. In its previous filing, the company stated that it holds 16,743,000 shares, representing
a raise
of 10.89%. The company

decreases

its portfolio allocation in MRVL of 4.88% over the last quarter.

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

Marvell Technology, Inc. develops and produces semiconductors and related technologies. The company offers a 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.