Marvell Technology (NASDAQ:MRVL) Price Target Raised to $150.00

Marvell Technology (NASDAQ:MRVL) had its price target upped by Barclays from $115.00 to $150.00 in a research report report published on Friday,Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

MRVL has been the subject of several other research reports. Needham & Company LLC raised their price target on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Wells Fargo & Company raised their price target on Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Stifel Nicolaus raised their price target on Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Morgan Stanley raised their price target on Marvell Technology from $102.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Finally, KeyCorp raised their price target on Marvell Technology from $95.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.96.

Marvell Technology Price Performance

MRVL opened at $124.76 on Friday. The business’s 50-day moving average is $106.70 and its two-hundred day moving average is $84.64. Marvell Technology has a 1 year low of $53.19 and a 1 year 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 firm has a market capitalization of $107.95 billion, a PE ratio of -73.39, a price-to-earnings-growth ratio of 3.76 and a beta of 1.41.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Insider Activity

In other news, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the sale, the chief financial officer now owns 111,211 shares of the company’s stock, valued at $13,159,597.63. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,755 shares of company stock worth $3,615,030 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Marvell Technology

Several large investors have recently made changes to their positions in the company. Secure Asset Management LLC purchased a new stake in shares of Marvell Technology during the fourth quarter worth approximately $261,000. Avior Wealth Management LLC increased its position in shares of Marvell Technology by 129.2% during the fourth quarter. Avior Wealth Management LLC now owns 3,124 shares of the semiconductor company’s stock worth $345,000 after purchasing an additional 1,761 shares in the last quarter. Burr Financial Services LLC purchased a new stake in shares of Marvell Technology during the fourth quarter worth approximately $636,000. Raleigh Capital Management Inc. increased its position in shares of Marvell Technology by 512.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 582 shares of the semiconductor company’s stock worth $64,000 after purchasing an additional 487 shares in the last quarter. Finally, Mutual Advisors LLC increased its position in shares of Marvell Technology by 3.9% during the fourth quarter. Mutual Advisors LLC now owns 9,895 shares of the semiconductor company’s stock worth $1,163,000 after purchasing an additional 374 shares in the last quarter. 83.51% of the stock is currently 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.