Marvell Technology, Inc. (NASDAQ:MRVL) Receives $127.60 Average Price Target from Analysts

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) have received a consensus rating of “Buy” from the twenty-eight ratings firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, twenty-four have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $127.60.

A number of research firms have commented on MRVL. Craig Hallum boosted their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. The Goldman Sachs Group boosted their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Bank of America boosted their target price on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Barclays reiterated an “overweight” rating on shares of Marvell Technology in a report on Friday, February 14th. Finally, Stifel Nicolaus boosted their target price on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, January 6th.

Marvell Technology Stock Up 4.8 %

MRVL stock opened at $91.82 on Monday. Marvell Technology has a 52 week low of $53.19 and a 52 week high of $127.48. The company has a market capitalization of $79.45 billion, a price-to-earnings ratio of -54.01, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The firm’s 50-day moving average is $112.03 and its two-hundred day moving average is $92.96. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.26%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at $13,807,097.50. This represents a 1.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the sale, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock worth $4,330,980 in the last 90 days. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Marvell Technology

Hedge funds have recently made changes to their positions in the company. Centricity Wealth Management LLC acquired a new stake in shares of Marvell Technology during the 4th quarter worth about $26,000. ORG Partners LLC increased its position in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Rialto Wealth Management LLC acquired a new stake in Marvell Technology in the 4th quarter valued at about $27,000. Kieckhefer Group LLC acquired a new stake in Marvell Technology in the 4th quarter valued at about $33,000. Finally, Financial Life Planners acquired a new stake in Marvell Technology in the 4th quarter valued at about $33,000. 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.