Marvell Technology (NASDAQ:MRVL) Price Target Raised to $131.00 at The Goldman Sachs Group

Marvell Technology (NASDAQ:MRVL) had its price target increased by The Goldman Sachs Group from $115.00 to $131.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other research firms have also commented on MRVL. Susquehanna increased their price target on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. increased their target price on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Craig Hallum upped their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Evercore ISI raised their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Finally, Benchmark reaffirmed a “buy” rating and issued a $135.00 target price (up from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $121.28.

Marvell Technology Trading Down 3.3 %

Shares of MRVL 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 company has a market capitalization of $98.92 billion, a P/E ratio of -67.25, a P/E/G ratio of 4.03 and a beta of 1.41. Marvell Technology has a 12-month low of $53.19 and a 12-month high of $126.15. The firm has a 50-day moving average price of $103.34 and a 200 day moving average price of $82.45.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be paid a $0.06 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Marvell Technology’s payout ratio is -14.12%.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $120,750.00. Following the sale, the chief financial officer now directly owns 110,253 shares in the company, valued at $8,875,366.50. This trade represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael G. Strachan sold 5,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $122.65, for a total transaction of $613,250.00. Following the completion of the sale, the director now directly owns 30,959 shares in the company, valued at $3,797,121.35. This represents a 13.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 180,000 shares of company stock valued at $15,163,420 over the last 90 days. 0.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Marvell Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of MRVL. Graypoint LLC grew its stake 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 acquiring an additional 894 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Marvell Technology by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 9,920 shares of the semiconductor company’s stock worth $1,096,000 after purchasing an additional 242 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in 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 valued at $5,520,000 after purchasing an additional 629 shares in the last quarter. ORG Partners LLC increased its stake in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares during the last quarter. Finally, Michael S. Ryan Inc. bought a new stake in Marvell Technology during the 4th quarter worth about $274,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Company Profile

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.