Marvell Technology, Inc. (NASDAQ:MRVL) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) have been given a consensus rating of “Moderate Buy” by the twenty-six research firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and twenty-four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $121.28.

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group lifted their price objective on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday. Craig Hallum upped their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. increased their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. UBS Group boosted their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Loop Capital upped their price target on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th.

Marvell Technology Stock Down 3.3 %

Shares of NASDAQ MRVL opened at $114.32 on Friday. The firm’s 50 day moving average price is $103.93 and its 200 day moving average price is $82.88. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm has a market cap of $98.92 billion, a P/E ratio of -67.25, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. Marvell Technology has a 1 year low of $53.19 and a 1 year high of $126.15.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $120,750.00. Following the sale, the chief financial officer now directly owns 110,253 shares in the company, valued at approximately $8,875,366.50. This trade represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael G. Strachan sold 5,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $122.65, for a total transaction of $613,250.00. Following the transaction, the director now directly owns 30,959 shares of the company’s stock, valued at approximately $3,797,121.35. This trade represents a 13.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,000 shares of company stock worth $15,163,420. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Marvell Technology

Several hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its holdings in Marvell Technology by 24.1% in the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after purchasing an additional 2,254,610 shares during the period. Temasek Holdings Private Ltd lifted its stake in shares of Marvell Technology by 581.8% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after acquiring an additional 1,911,532 shares during the period. Holocene Advisors LP bought a new position in shares of Marvell Technology in the third quarter valued at approximately $120,116,000. Van ECK Associates Corp increased its stake in shares of Marvell Technology by 26.6% during the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after acquiring an additional 1,570,050 shares during the period. Finally, D1 Capital Partners L.P. bought a new stake in Marvell Technology during the second quarter worth approximately $108,204,000. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Company Profile

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.