Brokerages Set Marvell Technology, Inc. (NASDAQ:MRVL) Target Price at $119.76

Marvell Technology, Inc. (NASDAQ:MRVL) has been given an average rating of “Moderate Buy” by the twenty-six brokerages that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and twenty-four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $120.64.

Several research firms have recently weighed in on MRVL. Needham & Company LLC boosted their price objective on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Citigroup boosted their target price on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. UBS Group raised their price target on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Craig Hallum lifted their price objective on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a report on Monday. Finally, Loop Capital increased their target price on Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, December 4th.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $118.23 on Friday. 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 firm has a market cap of $102.30 billion, a price-to-earnings ratio of -69.55, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. The business has a 50-day simple moving average of $102.58 and a two-hundred day simple moving average of $82.20. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two 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. Stockholders of record on Friday, January 10th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insider Buying and Selling

In other news, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the sale, the insider now owns 694,487 shares of the company’s stock, valued at $55,906,203.50. The trade was a 17.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew J. Murphy acquired 13,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were purchased at an average price of $77.63 per share, with a total value of $1,009,190.00. Following the completion of the purchase, the chief executive officer now owns 221,915 shares in the company, valued at $17,227,261.45. This represents a 6.22 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 180,000 shares of company stock worth $15,163,420 in the last 90 days. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marvell Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. True Wealth Design LLC boosted its position in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares during the last quarter. Quarry LP acquired a new position in shares of Marvell Technology during the 2nd quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Marvell Technology in the second quarter valued at approximately $32,000. Whittier Trust Co. lifted its position in Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares in the last quarter. Finally, Goodman Advisory Group LLC acquired a new position in Marvell Technology during the third quarter worth $37,000. 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.