Analysts Set Marvell Technology, Inc. (NASDAQ:MRVL) PT at $120.44

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) have been assigned an average recommendation of “Buy” from the twenty-eight analysts that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $120.44.

Several equities analysts have recently issued reports on MRVL shares. Evercore ISI boosted their target price on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Oppenheimer boosted their target price on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Roth Capital set a $100.00 target price on Marvell Technology in a research note on Thursday, March 6th. Finally, Barclays reduced their price target on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $70.39 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The stock has a 50 day moving average price of $99.06 and a two-hundred day moving average price of $93.85. The company has a market capitalization of $60.96 billion, a P/E ratio of -41.41, a PEG ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. Marvell Technology’s payout ratio is currently -23.53%.

Insider Activity

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the transaction, the executive vice president now owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the transaction, the chief financial officer now directly owns 111,211 shares in the company, valued at approximately $13,159,597.63. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,685 shares of company stock valued at $4,026,768 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Marvell Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC increased its position 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 worth $25,000 after buying an additional 326 shares in the last quarter. ORG Partners LLC increased its position in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after buying an additional 149 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Marvell Technology in the fourth quarter worth about $26,000. Rialto Wealth Management LLC purchased a new stake in Marvell Technology in the fourth quarter worth about $27,000. Finally, Kieckhefer Group LLC purchased a new stake in Marvell Technology in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

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.