Marvell Technology, Inc. (NASDAQ:MRVL) Short Interest Update

Marvell Technology, Inc. (NASDAQ:MRVL) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 19,550,000 shares, a decline of 22.2% from the December 15th total of 25,130,000 shares. Based on an average trading volume of 12,920,000 shares, the days-to-cover ratio is currently 1.5 days.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the transaction, the executive vice president now directly owns 103,244 shares in the company, valued at $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the sale, the chief financial officer now owns 114,211 shares in the company, valued at $10,180,768.54. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,500 shares of company stock valued at $2,967,670. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

A number of institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC boosted its holdings in shares of Marvell Technology by 1,481.8% in 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 period. ORG Partners LLC boosted 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 worth $26,000 after purchasing an additional 149 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Marvell Technology in the 2nd quarter worth approximately $32,000. Quarry LP purchased a new position in Marvell Technology during the 2nd quarter worth approximately $32,000. Finally, Kieckhefer Group LLC acquired a new stake in Marvell Technology during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MRVL. Loop Capital increased their target price on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. KeyCorp upped their price target on shares of Marvell Technology from $95.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday. Piper Sandler restated an “overweight” rating and issued a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Finally, B. Riley raised their price target 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. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average target price of $123.08.

Marvell Technology Price Performance

Shares of NASDAQ MRVL traded up $7.18 during trading on Friday, hitting $124.76. The company had a trading volume of 14,849,059 shares, compared to its average volume of 10,915,694. The company has a market cap of $107.95 billion, a P/E ratio of -73.39, a PEG ratio of 3.76 and a beta of 1.41. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The business’s 50-day moving average is $106.09 and its 200 day moving average is $84.09. 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 announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders 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 dividend yield of 0.19%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s dividend payout ratio is -14.12%.

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.