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

Marvell Technology (NASDAQ:MRVL) had its target price boosted by Stifel Nicolaus from $125.00 to $130.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Several other equities analysts also recently commented on the company. Loop Capital increased their price target on Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Citigroup lifted their target price on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Oppenheimer upped their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. TD Cowen boosted their price objective on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Needham & Company LLC raised their target price on Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus price target of $120.64.

Marvell Technology Stock Performance

MRVL opened at $119.01 on Monday. 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 company has a market cap of $102.98 billion, a PE ratio of -70.01, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. The stock has a 50-day moving average of $101.24 and a 200-day moving average of $81.64. 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 disclosed 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. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.20%. Marvell Technology’s payout ratio is presently -14.12%.

Insider Activity

In other news, insider Muhammad Raghib Hussain sold 150,000 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 $12,075,000.00. Following the sale, the insider now owns 694,487 shares in the company, valued at approximately $55,906,203.50. This represents a 17.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 acquired at an average cost of $77.63 per share, with a total value of $1,009,190.00. Following the completion of the acquisition, the chief executive officer now directly owns 221,915 shares of the company’s stock, 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 quarter, insiders have sold 175,000 shares of company stock worth $14,550,170. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its holdings in shares of Marvell Technology by 38,460.2% in the second quarter. Acadian Asset Management LLC now owns 132,647 shares of the semiconductor company’s stock valued at $9,267,000 after purchasing an additional 132,303 shares in the last quarter. Caprock Group LLC increased its stake in shares of Marvell Technology by 75.0% in the 2nd quarter. Caprock Group LLC now owns 8,993 shares of the semiconductor company’s stock valued at $629,000 after buying an additional 3,855 shares during the period. Ballentine Partners LLC raised its position in shares of Marvell Technology by 13.8% during the second quarter. Ballentine Partners LLC now owns 6,208 shares of the semiconductor company’s stock worth $434,000 after acquiring an additional 751 shares during the last quarter. Quest Partners LLC lifted its stake in shares of Marvell Technology by 1,181.8% during the second quarter. Quest Partners LLC now owns 1,128 shares of the semiconductor company’s stock valued at $79,000 after acquiring an additional 1,040 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in Marvell Technology in the second quarter valued at about $76,000. 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.