Marvell Technology (NASDAQ:MRVL) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Marvell Technology (NASDAQ:MRVL) had its price target hoisted by Stifel Nicolaus from $125.00 to $130.00 in a research note published on Monday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other analysts have also recently issued reports on the company. Benchmark restated a “buy” rating and set a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Evercore ISI raised their price objective 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. StockNews.com cut shares of Marvell Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. Finally, Susquehanna raised their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average price target of $120.64.

Marvell Technology Stock Up 1.7 %

MRVL stock opened at $118.23 on Monday. Marvell Technology has a twelve month low of $53.19 and a twelve month high of $126.15. 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 cap of $102.30 billion, a PE ratio of -69.55, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. The business’s 50-day simple moving average is $101.87 and its 200 day simple moving average is $81.95.

Marvell Technology Dividend Announcement

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 given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.20%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio is -14.12%.

Insider Buying and Selling

In related news, insider Muhammad Raghib Hussain sold 150,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the transaction, the insider now owns 694,487 shares of the company’s stock, valued at $55,906,203.50. This trade represents a 17.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $120,750.00. Following the completion of the sale, the chief financial officer now owns 110,253 shares in the company, valued at approximately $8,875,366.50. This trade represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 180,000 shares of company stock valued at $15,163,420 over the last ninety days. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Several institutional investors and hedge funds have recently made changes to their positions in the company. True Wealth Design LLC grew its stake 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 acquiring an additional 326 shares during the period. Quarry LP bought a new position in shares of Marvell Technology during the 2nd quarter valued at about $32,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Marvell Technology in the 2nd quarter valued at approximately $32,000. Whittier Trust Co. increased its stake in Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 210 shares in the last quarter. Finally, Goodman Advisory Group LLC acquired a new stake in Marvell Technology during the 3rd quarter worth approximately $37,000. 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.