Marvell Technology, Inc. (NASDAQ:MRVL) Given Average Rating of “Moderate Buy” by Analysts

Marvell Technology, Inc. (NASDAQ:MRVL) has received an average recommendation of “Moderate Buy” from the twenty-six analysts that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $120.64.

Several analysts have recently weighed in on the stock. Rosenblatt Securities raised their price objective on shares of Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company lifted their price target on Marvell Technology from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Bank of America raised their price objective on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Citigroup increased their price target on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, B. Riley upped their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th.

Marvell Technology Trading Up 1.7 %

Shares of MRVL opened at $118.23 on Friday. Marvell Technology has a 1-year low of $53.19 and a 1-year high of $126.15. The company has a market capitalization of $102.30 billion, a P/E ratio of -69.55, a P/E/G ratio of 4.03 and a beta of 1.41. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The firm’s 50 day simple moving average is $102.58 and its 200 day simple moving average is $82.20.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.20%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insider Activity

In other news, Director Michael G. Strachan sold 5,000 shares of Marvell Technology stock in a transaction that occurred 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 transaction, the director now directly owns 30,959 shares in the company, valued at approximately $3,797,121.35. This trade represents a 13.90 % 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, CEO Matthew J. Murphy purchased 13,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was bought at an average price of $77.63 per share, for a total transaction of $1,009,190.00. Following the purchase, the chief executive officer now directly owns 221,915 shares in the company, valued at $17,227,261.45. The trade was a 6.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 180,000 shares of company stock worth $15,163,420. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Several hedge funds have recently added to or reduced their stakes in MRVL. Michael S. Ryan Inc. bought a new position in Marvell Technology in the 4th quarter worth about $274,000. Regent Peak Wealth Advisors LLC purchased a new position in Marvell Technology in the fourth quarter worth about $200,000. Diversified Trust Co lifted its stake in shares of Marvell Technology by 5.2% in the fourth quarter. Diversified Trust Co now owns 9,414 shares of the semiconductor company’s stock worth $1,040,000 after buying an additional 464 shares in the last quarter. Advance Capital Management Inc. purchased a new stake in shares of Marvell Technology during the fourth quarter valued at approximately $204,000. Finally, Nordea Investment Management AB increased its position in shares of Marvell Technology by 14.0% during the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after acquiring an additional 571,005 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

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.