Marvell Technology (NASDAQ:MRVL) Upgraded by Loop Capital to Buy Rating

Loop Capital upgraded shares of Marvell Technology (NASDAQ:MRVL) from a hold rating to a buy rating in a research report released on Thursday, MarketBeat.com reports. They currently have $110.00 target price on the semiconductor company’s stock.

Other analysts also recently issued reports about the company. B. Riley lifted their price objective on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. William Blair upgraded Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Melius initiated coverage on Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 target price on the stock. UBS Group lifted their target price on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Cantor Fitzgerald lifted their target price on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $121.68.

Marvell Technology Stock Performance

MRVL stock opened at $72.28 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The business has a 50-day moving average price of $110.00 and a 200 day moving average price of $93.82. The company has a market capitalization of $62.54 billion, a P/E ratio of -42.52, a PEG ratio of 1.61 and a beta of 1.40. Marvell Technology has a 1-year low of $53.19 and a 1-year high of $127.48.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the transaction, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at $11,912,390. The trade was 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 over the last quarter. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. State Street Corp raised its stake in shares of Marvell Technology by 0.3% during the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after buying an additional 68,893 shares during the period. Invesco Ltd. raised its stake in shares of Marvell Technology by 30.1% during the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock worth $1,784,649,000 after buying an additional 3,737,705 shares during the period. Janus Henderson Group PLC raised its stake in shares of Marvell Technology by 6.9% during the 4th quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company’s stock worth $1,462,274,000 after buying an additional 857,087 shares during the period. Wellington Management Group LLP raised its stake in shares of Marvell Technology by 43.1% during the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock worth $1,374,252,000 after buying an additional 3,747,982 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Marvell Technology by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock worth $1,263,755,000 after buying an additional 80,005 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

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.