Marvell Technology’s (MRVL) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Marvell Technology (NASDAQ:MRVL) in a research report sent to investors on Thursday,Benzinga reports. Rosenblatt Securities currently has a $140.00 price objective on the semiconductor company’s stock.

MRVL has been the topic of a number of other research reports. Melius initiated coverage on Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 price target on the stock. KeyCorp increased their price objective on shares of Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Evercore ISI lifted their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Oppenheimer upped 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. Finally, UBS Group raised their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $121.68.

Marvell Technology Price Performance

NASDAQ:MRVL opened at $70.84 on Thursday. 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 $61.30 billion, a price-to-earnings ratio of -41.67, a P/E/G ratio of 1.61 and a beta of 1.42. The stock’s 50 day moving average price is $108.27 and its two-hundred day moving average price is $93.84. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Insider Activity at Marvell Technology

In related news, Director Brad W. Buss bought 3,000 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was purchased at an average price 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 of the company’s stock, valued at $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock valued at $4,330,980 over the last three months. 0.33% of the stock is owned by insiders.

Institutional Trading of Marvell Technology

A number of hedge funds have recently added to or reduced their stakes in MRVL. True Wealth Design LLC lifted its stake in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares during the last quarter. ORG Partners LLC grew its position in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in Marvell Technology in the 4th quarter worth about $26,000. Rialto Wealth Management LLC bought a new position in Marvell Technology in the fourth quarter valued at about $27,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology during the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

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.