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

Marvell Technology, Inc. (NASDAQ:MRVL) has earned an average recommendation of “Moderate Buy” from the twenty-seven analysts that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $111.27.

Several equities research analysts have commented on MRVL shares. TD Cowen decreased their price objective on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Morgan Stanley decreased their price objective on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Raymond James set a $110.00 price objective on shares of Marvell Technology in a research note on Thursday, March 6th. Melius initiated coverage on shares of Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 price objective for the company. Finally, Piper Sandler reduced their target price on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th.

Insiders Place Their Bets

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the sale, the chief operating officer now directly owns 87,931 shares in the company, valued at $9,351,461.85. This represents a 6.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Panteha Dixon sold 1,239 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $65.01, for a total transaction of $80,547.39. Following the completion of the sale, the chief accounting officer now owns 30,855 shares in the company, valued at $2,005,883.55. This represents a 3.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,915 shares of company stock worth $2,679,800 in the last three months. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Marvell Technology

Several institutional investors and hedge funds have recently bought and sold shares of the company. ORG Partners LLC raised its position in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Marvell Technology by 1.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 49,974 shares of the semiconductor company’s stock worth $5,520,000 after acquiring an additional 629 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Marvell Technology by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 9,920 shares of the semiconductor company’s stock worth $1,096,000 after acquiring an additional 242 shares during the last quarter. Graypoint LLC lifted its holdings in shares of Marvell Technology by 28.6% during the 4th quarter. Graypoint LLC now owns 4,018 shares of the semiconductor company’s stock worth $444,000 after acquiring an additional 894 shares during the last quarter. Finally, Brookstone Capital Management lifted its holdings in shares of Marvell Technology by 16.0% during the 4th quarter. Brookstone Capital Management now owns 3,473 shares of the semiconductor company’s stock worth $384,000 after acquiring an additional 478 shares during the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Trading Down 2.2%

NASDAQ:MRVL opened at $63.76 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. The firm has a market cap of $55.08 billion, a price-to-earnings ratio of -37.51, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. Marvell Technology has a 52 week low of $47.09 and a 52 week high of $127.48. The firm has a 50-day moving average price of $60.36 and a two-hundred day moving average price of $88.68.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology’s dividend payout ratio is presently -23.53%.

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.