Marvell Technology, Inc. (NASDAQ:MRVL) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Marvell Technology, Inc. (NASDAQ:MRVL) has received an average recommendation of “Moderate Buy” from the twenty-six analysts that are covering the company, 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 1-year target price among brokers that have issued a report on the stock in the last year is $119.76.

Several equities research analysts have commented on MRVL shares. Morgan Stanley increased their price objective on Marvell Technology from $102.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Benchmark reissued a “buy” rating and set a $135.00 target price (up previously from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Bank of America increased their price objective on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. StockNews.com downgraded shares of Marvell Technology from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, B. Riley increased their price objective on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the sale, the executive vice president now owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 172,500 shares of company stock worth $14,267,670. Insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Institutional investors have recently bought and sold shares of the business. True Wealth Design LLC raised its position 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. Quarry LP bought a new position in shares of Marvell Technology during the second quarter worth $32,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Marvell Technology in the 2nd quarter valued at $32,000. Whittier Trust Co. raised its stake in Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares during the period. Finally, Goodman Advisory Group LLC bought a new stake in shares of Marvell Technology in the third quarter worth about $37,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Trading Up 4.1 %

Shares of MRVL stock opened at $118.18 on Friday. The firm has a market capitalization of $102.26 billion, a PE ratio of -69.52, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. 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 stock has a fifty day moving average of $100.53 and a two-hundred day moving average of $81.26. Marvell Technology has a 1 year low of $53.19 and a 1 year high of $126.15.

Marvell Technology Announces Dividend

The business also recently disclosed 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 is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.20%. Marvell Technology’s payout ratio is presently -14.12%.

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.