Marvell Technology, Inc. (NASDAQ:MRVL) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) have been given a consensus recommendation of “Moderate Buy” by the twenty-seven research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $127.60.

Several brokerages have recently issued reports on MRVL. Melius Research upgraded Marvell Technology to a “strong-buy” rating in a research report on Monday. Loop Capital raised their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. B. Riley boosted their price objective 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. Bank of America raised their target price on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, UBS Group increased their price target on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th.

Insiders Place Their Bets

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael G. Strachan sold 5,000 shares of the company’s 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 completion of the transaction, the director now owns 30,959 shares of the company’s stock, valued at approximately $3,797,121.35. This trade represents a 13.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock valued at $4,361,430 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Large investors have recently bought and sold shares of the stock. State Street Corp raised its holdings in Marvell Technology by 0.3% during the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after purchasing an additional 68,893 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Marvell Technology by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock valued at $818,916,000 after purchasing an additional 219,692 shares during the period. Wellington Management Group LLP raised its stake in shares of Marvell Technology by 4.3% in the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock worth $627,034,000 after buying an additional 359,005 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after buying an additional 1,570,050 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Marvell Technology by 14.0% during the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after buying an additional 571,005 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Up 2.8 %

MRVL stock opened at $106.79 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology has a 12 month low of $53.19 and a 12 month high of $127.48. The firm has a market capitalization of $92.41 billion, a PE ratio of -62.82, a P/E/G ratio of 4.12 and a beta of 1.41. The company’s 50 day simple moving average is $110.97 and its 200-day simple moving average is $86.99.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

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.