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

Marvell Technology, Inc. (NASDAQ:MRVL) has been given a consensus recommendation of “Buy” by the twenty-eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $127.60.

A number of equities research analysts recently issued reports on MRVL shares. JPMorgan Chase & Co. lifted their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Oppenheimer lifted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Bank of America lifted their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley reissued an “equal weight” rating on shares of Marvell Technology in a research note on Friday, February 14th. Finally, Melius initiated coverage on shares of Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 price target on the stock.

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the transaction, the executive vice president now owns 97,244 shares in the company, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock valued at $4,330,980 over the last 90 days. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marvell Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp grew its position in Marvell Technology by 0.3% in the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after buying an additional 68,893 shares during the last quarter. Invesco Ltd. grew its position in Marvell Technology by 30.1% in the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock valued at $1,784,649,000 after buying an additional 3,737,705 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Marvell Technology by 6.9% in the fourth quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company’s stock valued at $1,462,274,000 after acquiring an additional 857,087 shares during the period. Wellington Management Group LLP lifted its holdings in Marvell Technology by 43.1% in the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock valued at $1,374,252,000 after acquiring an additional 3,747,982 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Marvell Technology by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock valued at $1,263,755,000 after acquiring an additional 80,005 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Price Performance

NASDAQ:MRVL opened at $103.85 on Monday. The company has a 50 day moving average price of $113.59 and a 200-day moving average price of $92.50. Marvell Technology has a 1-year low of $53.19 and a 1-year high of $127.48. The firm has a market cap of $89.86 billion, a price-to-earnings ratio of -61.09, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. Marvell Technology’s dividend payout ratio (DPR) 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.