Marvell Technology, Inc. (NASDAQ:MRVL – Get Free Report) has been assigned an average rating of “Moderate Buy” from the twenty-six analysts that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $119.04.
MRVL has been the topic of several analyst reports. B. Riley lifted their target price on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group lifted their price objective on shares of Marvell Technology from $87.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Stifel Nicolaus restated a “buy” rating and set a $125.00 price objective (up previously from $114.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Monday, December 2nd. Finally, Roth Mkm reiterated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research note on Friday, August 30th.
Read Our Latest Research Report on Marvell Technology
Marvell Technology Stock Performance
Marvell Technology Dividend Announcement
The business also recently disclosed 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 annualized dividend and a dividend yield of 0.21%. Marvell Technology’s payout ratio is currently -14.12%.
Insiders Place Their Bets
In other news, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the transaction, the insider now directly owns 694,487 shares in the company, valued at $55,906,203.50. This trade represents a 17.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated 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 owns 97,244 shares of the company’s stock, valued at $11,912,390. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 175,000 shares of company stock valued at $14,444,745 over the last quarter. Company insiders own 0.33% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. boosted its position in Marvell Technology by 24.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after purchasing an additional 2,254,610 shares during the period. Swedbank AB boosted its position in shares of Marvell Technology by 653.5% in the second quarter. Swedbank AB now owns 2,334,015 shares of the semiconductor company’s stock worth $163,148,000 after buying an additional 2,024,269 shares during the period. Temasek Holdings Private Ltd raised its holdings in shares of Marvell Technology by 581.8% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after buying an additional 1,911,532 shares during the period. Holocene Advisors LP acquired a new position in Marvell Technology during the 3rd quarter worth approximately $120,116,000. Finally, Van ECK Associates Corp lifted its position in Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after acquiring an additional 1,570,050 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.
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.
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