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

Marvell Technology, Inc. (NASDAQ:MRVL) has received an average rating of “Buy” from the twenty-eight analysts that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, twenty-four have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $120.44.

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald boosted their price objective on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. KeyCorp decreased their price target on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Raymond James set a $110.00 price objective on Marvell Technology in a research report on Thursday, March 6th. Barclays decreased their target price on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Finally, Citigroup reduced their price target on Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $64.86 on Friday. The business’s 50-day simple moving average is $95.30 and its 200-day simple moving average is $93.52. The firm has a market capitalization of $56.17 billion, a P/E ratio of -38.15, a P/E/G ratio of 1.61 and a beta of 1.42. Marvell Technology has a 1-year low of $53.19 and a 1-year high of $127.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.37%. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Insider Activity at Marvell Technology

In related news, CAO Panteha Dixon sold 1,430 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the sale, the chief accounting officer now directly owns 31,100 shares in the company, valued at $2,138,125. This trade represents a 4.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the transaction, the chief financial officer now owns 111,211 shares of the company’s stock, valued at $13,159,597.63. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,685 shares of company stock worth $4,026,768 in the last ninety days. 0.33% of the stock is owned by insiders.

Institutional Trading of Marvell Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Intrepid Financial Planning Group LLC raised its holdings in Marvell Technology by 0.3% during the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock worth $2,860,000 after purchasing an additional 90 shares in the last quarter. PDS Planning Inc increased its position in shares of Marvell Technology by 3.3% during the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock valued at $319,000 after purchasing an additional 92 shares during the period. Lodestone Wealth Management LLC raised its stake in shares of Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock worth $514,000 after buying an additional 93 shares in the last quarter. Valley National Advisers Inc. lifted its holdings in shares of Marvell Technology by 0.4% in the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after buying an additional 96 shares during the period. Finally, Private Trust Co. NA boosted its stake in Marvell Technology by 2.7% during the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock valued at $414,000 after buying an additional 97 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

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.