Marvell Technology (NASDAQ:MRVL) Stock Price Expected to Rise, Loop Capital Analyst Says

Marvell Technology (NASDAQ:MRVL) had its target price upped by Loop Capital from $95.00 to $110.00 in a research report report published on Wednesday, MarketBeat Ratings reports. They currently have a hold rating on the semiconductor company’s stock.

Several other analysts have also recently commented on MRVL. Citigroup restated a “buy” rating and issued a $91.00 price target on shares of Marvell Technology in a report on Monday, October 14th. Benchmark restated a “buy” rating and issued a $135.00 target price (up from $115.00) on shares of Marvell Technology in a report on Wednesday. Bank of America increased 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. Oppenheimer boosted their price objective on shares of Marvell Technology from $90.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company increased their target price on shares of Marvell Technology from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.04.

Marvell Technology Price Performance

MRVL stock opened at $113.51 on Wednesday. The stock has a market capitalization of $100.59 billion, a price-to-earnings ratio of -66.77, a price-to-earnings-growth ratio of 4.15 and a beta of 1.46. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. Marvell Technology has a 52-week low of $50.56 and a 52-week high of $119.88. The stock’s fifty day simple moving average is $86.09 and its 200-day simple moving average is $75.57.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $73.87, for a total transaction of $110,805.00. Following the sale, the chief financial officer now directly owns 111,753 shares of the company’s stock, valued at approximately $8,255,194.11. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the transaction, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at $9,203,170.16. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 267,000 shares of company stock valued at $20,899,260. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Several institutional investors and hedge funds have recently bought and sold shares of MRVL. Ameriprise Financial Inc. grew its holdings in shares of Marvell Technology by 24.1% during the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after purchasing an additional 2,254,610 shares during the last quarter. Swedbank AB boosted its position in Marvell Technology by 653.5% during the 2nd quarter. Swedbank AB now owns 2,334,015 shares of the semiconductor company’s stock valued at $163,148,000 after purchasing an additional 2,024,269 shares during the period. Temasek Holdings Private Ltd grew its stake in Marvell Technology by 581.8% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after buying an additional 1,911,532 shares during the last quarter. Holocene Advisors LP acquired a new stake in Marvell Technology in the third quarter worth $120,116,000. Finally, Van ECK Associates Corp lifted its stake in Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after buying an additional 1,570,050 shares during the last quarter. Institutional investors and hedge funds 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.