Insider Buying: Marvell Technology, Inc. (NASDAQ:MRVL) Director Purchases 3,000 Shares of Stock

Marvell Technology, Inc. (NASDAQ:MRVL) Director Brad W. Buss purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the transaction, the director now owns 87,113 shares of the company’s stock, valued at $6,010,797. This trade represents a 3.57 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Marvell Technology Price Performance

Shares of MRVL stock opened at $70.84 on Friday. 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 firm’s 50-day moving average is $108.27 and its two-hundred day moving average is $93.84. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company has a market capitalization of $61.30 billion, a PE ratio of -41.67, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is -23.53%.

Analyst Ratings Changes

Several analysts recently commented on MRVL shares. B. Riley raised their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company lifted their target price on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Oppenheimer lifted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Barclays dropped their target price on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Morgan Stanley dropped their target price on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $121.68.

Institutional Investors Weigh In On Marvell Technology

A number of institutional investors and hedge funds have recently made changes to their positions in MRVL. True Wealth Design LLC raised its stake in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares during the period. ORG Partners LLC increased its position in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $27,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Marvell Technology in the 4th quarter valued at $33,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

About Marvell Technology

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.