Marvell Technology, Inc. (NASDAQ:MRVL) Receives $119.04 Consensus PT from Analysts

Marvell Technology, Inc. (NASDAQ:MRVL) has been given an average rating of “Moderate Buy” by the twenty-six brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $119.04.

Several research analysts have recently issued reports on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $125.00 target price (up previously from $114.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Wells Fargo & Company raised their target price on shares of Marvell Technology from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. TD Cowen raised their target price on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Cantor Fitzgerald raised their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Susquehanna raised their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th.

Marvell Technology Trading Up 10.8 %

MRVL opened at $120.77 on Wednesday. The stock has a market capitalization of $104.50 billion, a PE ratio of -71.04, a PEG ratio of 3.72 and a beta of 1.46. 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 $121.86. The firm has a 50-day moving average price of $89.98 and a two-hundred day moving average price of $76.82.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.20%. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 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 value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was 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 in the company, valued at approximately $55,906,203.50. The trade was a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 167,500 shares of company stock worth $13,525,995 over the last ninety days. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Institutional investors have recently added to or reduced their stakes in the company. True Wealth Design LLC increased its holdings in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying an additional 326 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Marvell Technology in the second quarter valued at about $32,000. Quarry LP bought a new stake in shares of Marvell Technology in the second quarter valued at about $32,000. Whittier Trust Co. boosted its position in shares of Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 210 shares during the period. Finally, Goodman Advisory Group LLC bought a new stake in shares of Marvell Technology in the third quarter valued at about $37,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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.