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

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) have been assigned an average rating of “Moderate Buy” from the twenty-seven analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $127.60.

MRVL has been the topic of a number of recent analyst reports. Craig Hallum boosted their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a report on Monday, January 6th. Benchmark restated a “buy” rating and issued a $135.00 target price (up previously from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Needham & Company LLC upped their price target on Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. raised their price objective on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, TD Cowen upped their target price on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th.

Marvell Technology Trading Up 2.8 %

Shares of MRVL opened at $106.79 on Thursday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology has a 1-year low of $53.19 and a 1-year high of $127.48. The stock has a market capitalization of $92.41 billion, a P/E ratio of -62.82, a P/E/G ratio of 4.12 and a beta of 1.41. The business’s 50-day moving average price is $110.97 and its 200 day moving average price is $86.99.

Marvell Technology Announces Dividend

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

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the transaction, the chief financial officer now owns 114,211 shares of the company’s stock, valued at $10,180,768.54. This represents a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the sale, the executive vice president now directly owns 97,244 shares in the company, valued at $11,912,390. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,755 shares of company stock worth $4,361,430. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in MRVL. ORG Partners LLC grew its position in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares during the period. Kieckhefer Group LLC bought a new stake in shares of Marvell Technology in the 4th quarter worth about $33,000. Financial Life Planners acquired a new stake in shares of Marvell Technology during the 4th quarter worth about $33,000. GHP Investment Advisors Inc. lifted its holdings in Marvell Technology by 48.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 112 shares during the last quarter. Finally, True Wealth Design LLC boosted its position in Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 326 shares in the last quarter. 83.51% of the stock is 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.