Marvell Technology (NASDAQ:MRVL) Price Target Raised to $149.00

Marvell Technology (NASDAQ:MRVL) had its price target upped by Craig Hallum from $132.00 to $149.00 in a research note released on Monday,Benzinga reports. Craig Hallum currently has a buy rating on the semiconductor company’s stock.

A number of other research firms also recently commented on MRVL. KeyCorp raised their price objective on Marvell Technology from $95.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Citigroup raised their price target on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. B. Riley increased their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Benchmark reissued a “buy” rating and issued a $135.00 target price (up previously from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Finally, Bank of America upped their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $120.64.

Marvell Technology Trading Up 1.7 %

MRVL stock opened at $118.23 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The company has a market cap of $102.30 billion, a price-to-earnings ratio of -69.55, a PEG ratio of 4.03 and a beta of 1.41. The business has a fifty day simple moving average of $101.87 and a 200-day simple moving average of $81.95. Marvell Technology has a 52 week low of $53.19 and a 52 week high of $126.15.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.20%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insider Activity at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy acquired 13,000 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was purchased at an average price of $77.63 per share, with a total value of $1,009,190.00. Following the completion of the acquisition, the chief executive officer now directly owns 221,915 shares in the company, valued at $17,227,261.45. This trade represents a 6.22 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $120,750.00. Following the sale, the chief financial officer now owns 110,253 shares of the company’s stock, valued at approximately $8,875,366.50. The trade was a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 180,000 shares of company stock valued at $15,163,420 over the last three months. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Marvell Technology

Institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its stake in Marvell Technology by 24.1% in the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after acquiring an additional 2,254,610 shares during the period. Temasek Holdings Private Ltd lifted its holdings in shares of Marvell Technology by 581.8% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after purchasing an additional 1,911,532 shares during the last quarter. Holocene Advisors LP acquired a new position in Marvell Technology during the 3rd quarter valued at approximately $120,116,000. Van ECK Associates Corp grew its stake in Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after buying an additional 1,570,050 shares during the last quarter. Finally, D1 Capital Partners L.P. acquired a new stake in Marvell Technology in the second quarter worth $108,204,000. 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.