Marvell Technology, Inc. (NASDAQ:MRVL) Short Interest Update

Marvell Technology, Inc. (NASDAQ:MRVL) was the target of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 15,980,000 shares, a decrease of 21.1% from the January 15th total of 20,250,000 shares. Based on an average trading volume of 14,020,000 shares, the days-to-cover ratio is presently 1.1 days.

Marvell Technology Price Performance

MRVL opened at $103.50 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 stock has a market capitalization of $89.56 billion, a P/E ratio of -60.88, a price-to-earnings-growth ratio of 1.77 and a beta of 1.40. The company’s 50 day simple moving average is $114.27 and its 200-day simple moving average is $90.05. Marvell Technology has a one year low of $53.19 and a one year high of $127.48.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. Marvell Technology’s payout ratio is -14.12%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Cantor Fitzgerald upped their price target on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. The Goldman Sachs Group upped their target price on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Morgan Stanley decreased their price target on shares of Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. Stifel Nicolaus increased their price objective on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $120.00 price objective (up from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Insider Transactions at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the sale, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,255 shares of company stock valued at $3,692,880. 0.33% of the stock is owned by insiders.

Institutional Trading of Marvell Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Inspire Investing LLC raised its stake in shares of Marvell Technology by 5.6% during the third quarter. Inspire Investing LLC now owns 3,981 shares of the semiconductor company’s stock worth $287,000 after buying an additional 210 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Marvell Technology by 125.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 336 shares during the last quarter. Creative Planning raised its position in shares of Marvell Technology by 37.5% during the 3rd quarter. Creative Planning now owns 103,740 shares of the semiconductor company’s stock valued at $7,482,000 after acquiring an additional 28,286 shares during the last quarter. NBC Securities Inc. lifted its stake in shares of Marvell Technology by 20.5% in the 3rd quarter. NBC Securities Inc. now owns 2,466 shares of the semiconductor company’s stock valued at $177,000 after purchasing an additional 419 shares during the period. Finally, Swedbank AB boosted its position in shares of Marvell Technology by 1.0% in the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock worth $170,037,000 after purchasing an additional 23,680 shares during the last quarter. 83.51% of the stock is 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.