Analysts Set Marvell Technology, Inc. (NASDAQ:MRVL) Target Price at $127.60

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) have been given an average recommendation of “Moderate Buy” by the twenty-seven brokerages that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, twenty-four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $127.60.

Several brokerages recently issued reports on MRVL. Benchmark reiterated a “buy” rating and issued a $135.00 target price (up from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Evercore ISI increased their price objective on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Susquehanna raised their price objective on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, Bank of America lifted their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the transaction, the executive vice president now owns 93,931 shares in the company, valued at approximately $11,685,016.40. This represents a 6.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock valued at $4,361,430 over the last three months. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Hedge funds and other institutional investors have recently modified their holdings of the business. Zweig DiMenna Associates LLC grew its holdings in Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after purchasing an additional 12,700 shares during the period. Berbice Capital Management LLC purchased a new stake in shares of Marvell Technology in the 4th quarter worth approximately $637,000. RFG Advisory LLC increased its position in Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after buying an additional 2,507 shares in the last quarter. Braun Stacey Associates Inc. purchased a new position in Marvell Technology during the third quarter valued at $16,435,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after buying an additional 66,654 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Price Performance

MRVL stock opened at $116.46 on Thursday. The firm has a 50 day simple moving average of $113.00 and a two-hundred day simple moving average of $88.47. The stock has a market cap of $100.77 billion, a PE ratio of -68.51, a P/E/G ratio of 3.71 and a beta of 1.40. Marvell Technology has a one year low of $53.19 and a one 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

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.