Marvell Technology, Inc. (NASDAQ:MRVL) Receives $119.76 Consensus Target Price from Analysts

Marvell Technology, Inc. (NASDAQ:MRVL) has been given an average rating of “Moderate Buy” by the twenty-six research firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and twenty-four have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $121.28.

MRVL has been the subject of a number of analyst reports. Barclays upped their price target on Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Rosenblatt Securities increased their target price on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday. Loop Capital increased their price objective on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Finally, Cantor Fitzgerald lifted their price objective on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th.

Marvell Technology Stock Down 3.3 %

Marvell Technology stock opened at $114.32 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm has a market cap of $98.92 billion, a price-to-earnings ratio of -67.25, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. The business’s 50-day moving average price is $103.93 and its 200 day moving average price is $82.88. Marvell Technology has a 52 week low of $53.19 and a 52 week high of $126.15.

Marvell Technology Announces Dividend

The business 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 $0.06 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Insider Buying and Selling

In other Marvell Technology news, insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction on 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 sale, the insider now owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. This represents a 17.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael G. Strachan sold 5,000 shares of Marvell Technology stock in a transaction on Monday, January 6th. The stock was sold at an average price of $122.65, for a total value of $613,250.00. Following the transaction, the director now directly owns 30,959 shares of the company’s stock, valued at $3,797,121.35. This trade represents a 13.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,000 shares of company stock valued at $15,163,420. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Large investors have recently modified their holdings of the business. Graypoint LLC raised its position in shares of Marvell Technology by 28.6% during the 4th quarter. Graypoint LLC now owns 4,018 shares of the semiconductor company’s stock worth $444,000 after purchasing an additional 894 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Marvell Technology by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 9,920 shares of the semiconductor company’s stock worth $1,096,000 after acquiring an additional 242 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Marvell Technology by 1.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 49,974 shares of the semiconductor company’s stock worth $5,520,000 after acquiring an additional 629 shares during the last quarter. ORG Partners LLC lifted its position in shares of 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 in the last quarter. Finally, Michael S. Ryan Inc. acquired a new stake in shares of Marvell Technology during the fourth quarter valued at $274,000. 83.51% of the stock is currently 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.