Marvell Technology, Inc. (NASDAQ:MRVL) Receives Consensus Recommendation of “Buy” from Analysts

Marvell Technology, Inc. (NASDAQ:MRVL) has received an average rating of “Buy” from the twenty-eight ratings firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, twenty-four have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $119.48.

A number of brokerages have recently weighed in on MRVL. TD Cowen lowered their price target on Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. The Goldman Sachs Group lifted their target price on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Rosenblatt Securities reissued a “buy” rating and issued a $140.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Needham & Company LLC lowered their price objective on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Finally, Melius began coverage on shares of Marvell Technology in a research report on Monday, January 27th. They issued a “buy” rating and a $188.00 target price for the company.

Insider Transactions at Marvell Technology

In related news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $412,980.00. Following the completion of the sale, the chief operating officer now owns 81,931 shares in the company, valued at approximately $5,639,310.73. This trade represents a 6.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $13,159,597.63. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,185 shares of company stock worth $3,131,018 over the last three months. 0.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MRVL. Zweig DiMenna Associates LLC boosted its holdings in Marvell Technology by 6.3% during the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after purchasing an additional 12,700 shares in the last quarter. Berbice Capital Management LLC acquired a new stake in Marvell Technology in the 4th quarter valued at $637,000. RFG Advisory LLC grew its position in Marvell Technology by 6.2% in the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after acquiring an additional 2,507 shares during the period. Franchise Capital Ltd acquired a new position in Marvell Technology during the fourth quarter worth $1,476,000. Finally, United Asset Strategies Inc. lifted its holdings in shares of Marvell Technology by 7.1% during the fourth quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company’s stock valued at $24,287,000 after acquiring an additional 14,547 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Stock Down 2.1 %

Shares of NASDAQ:MRVL opened at $52.26 on Tuesday. The firm has a 50 day simple moving average of $78.58 and a 200 day simple moving average of $92.05. Marvell Technology has a 52 week low of $47.09 and a 52 week high of $127.48. 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 $45.26 billion, a PE ratio of -30.74, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is currently -23.53%.

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.