Marvell Technology (NASDAQ:MRVL) Price Target Raised to $130.00

Marvell Technology (NASDAQ:MRVL) had its target price upped by Stifel Nicolaus from $125.00 to $130.00 in a research note issued to investors on Monday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald lifted their price target on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. TD Cowen lifted their target price on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Barclays raised their price objective on shares of Marvell Technology from $85.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on shares of Marvell Technology from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $120.64.

Marvell Technology Trading Up 1.7 %

Marvell Technology stock opened at $118.23 on Monday. Marvell Technology has a 12-month low of $53.19 and a 12-month high of $126.15. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The stock has a market capitalization of $102.30 billion, a PE ratio of -69.55, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. The firm has a 50 day simple moving average of $101.87 and a 200-day simple moving average of $81.95.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders 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 annualized dividend and a dividend yield of 0.20%. Marvell Technology’s dividend payout ratio is -14.12%.

Insider Buying and Selling

In other news, Director Michael G. Strachan sold 5,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the transaction, the director now owns 30,959 shares of the company’s stock, valued at approximately $3,797,121.35. This represents a 13.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the sale, the insider now owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. This trade represents a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,000 shares of company stock worth $15,163,420. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

A number of institutional investors have recently modified their holdings of MRVL. Citizens Financial Group Inc. RI raised its holdings in Marvell Technology by 1.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after acquiring an additional 116 shares during the period. Crumly & Associates Inc. increased its stake in shares of Marvell Technology by 1.5% in the third quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock worth $593,000 after purchasing an additional 121 shares during the period. United Capital Management of KS Inc. lifted its position in shares of Marvell Technology by 0.4% during the 3rd quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock worth $2,470,000 after purchasing an additional 131 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in Marvell Technology by 1.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock valued at $716,000 after purchasing an additional 139 shares during the period. Finally, ASB Consultores LLC grew its holdings in Marvell Technology by 3.8% in the 3rd quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock valued at $276,000 after buying an additional 140 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

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.