Marvell Technology, Inc. (NASDAQ:MRVL) Director Brad W. Buss Purchases 3,000 Shares

Marvell Technology, Inc. (NASDAQ:MRVL) Director Brad W. Buss acquired 3,000 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the transaction, the director now directly owns 87,113 shares in the company, valued at $6,010,797. This trade represents a 3.57 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $70.84 on Friday. The stock has a market cap of $61.30 billion, a PE ratio of -41.67, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two 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 stock has a fifty day moving average of $109.13 and a 200-day moving average of $93.67.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.34%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Hedge Funds Weigh In On Marvell Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Castle Rock Wealth Management LLC grew its position in Marvell Technology by 165.8% during the fourth quarter. Castle Rock Wealth Management LLC now owns 16,283 shares of the semiconductor company’s stock worth $1,734,000 after buying an additional 10,157 shares in the last quarter. Total Wealth Planning & Management Inc. purchased a new position in shares of Marvell Technology in the 4th quarter worth about $824,000. Menard Financial Group LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth about $669,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Marvell Technology in the 4th quarter worth about $105,450,000. Finally, Chelsea Counsel Co. purchased a new position in shares of Marvell Technology in the 4th quarter worth about $44,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MRVL shares. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. KeyCorp dropped their target price on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday. The Goldman Sachs Group raised their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, January 10th. Summit Insights downgraded shares of Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday. Finally, B. Riley lifted their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.68.

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.