Marvell Technology (NASDAQ:MRVL) Upgraded at Loop Capital

Loop Capital upgraded shares of Marvell Technology (NASDAQ:MRVL) from a hold rating to a buy rating in a report published on Thursday, MarketBeat reports. They currently have $110.00 price objective on the semiconductor company’s stock.

A number of other research analysts also recently weighed in on the stock. Barclays restated an “overweight” rating on shares of Marvell Technology in a report on Friday, February 14th. Oppenheimer raised their target price on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price target on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Melius Research raised Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Finally, B. Riley boosted their target price on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Three research 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 company. According to MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $121.68.

Marvell Technology Price Performance

Shares of MRVL opened at $70.84 on Thursday. 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 firm has a market cap of $61.30 billion, a PE ratio of -41.67, a PEG ratio of 1.61 and a beta of 1.42. The firm’s 50 day moving average price is $108.27 and its 200 day moving average price is $93.84. Marvell Technology has a twelve month low of $53.19 and a twelve month high of $127.48.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is presently -23.53%.

Insider Activity at Marvell Technology

In other news, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the sale, the chief operating officer now directly owns 87,931 shares in the company, valued at approximately $9,351,461.85. This represents a 6.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Brad W. Buss bought 3,000 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the acquisition, the director now owns 87,113 shares in the company, valued at $6,010,797. This represents a 3.57 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is owned by corporate insiders.

Institutional Trading of Marvell Technology

Large investors have recently bought and sold shares of the stock. Intrepid Financial Planning Group LLC boosted its stake in shares of Marvell Technology by 0.3% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock valued at $2,860,000 after purchasing an additional 90 shares in the last quarter. PDS Planning Inc lifted its holdings in Marvell Technology by 3.3% during the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock valued at $319,000 after purchasing an additional 92 shares during the last quarter. Lodestone Wealth Management LLC boosted its position in Marvell Technology by 2.0% in the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after buying an additional 93 shares in the last quarter. Valley National Advisers Inc. boosted its position in Marvell Technology by 0.4% in the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after buying an additional 96 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in Marvell Technology by 2.7% during the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after buying an additional 97 shares during the last quarter. 83.51% of the stock is currently owned by 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.