Marvell Technology (NASDAQ:MRVL) Price Target Raised to $125.00

Marvell Technology (NASDAQ:MRVL) had its price objective lifted by KeyCorp from $95.00 to $125.00 in a research report sent to investors on Wednesday morning, MarketBeat reports. KeyCorp currently has an overweight rating on the semiconductor company’s stock.

MRVL has been the topic of several other research reports. Rosenblatt Securities raised their price target on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday. The Goldman Sachs Group raised their target price on shares of Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. upped their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley lifted their price objective on shares of Marvell Technology from $82.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Citigroup upped their target price on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $119.04.

Marvell Technology Stock Up 0.1 %

Shares of NASDAQ:MRVL opened at $113.51 on Wednesday. The business’s 50 day moving average is $86.09 and its 200 day moving average is $75.57. The stock has a market cap of $100.59 billion, a P/E ratio of -66.77, a price-to-earnings-growth ratio of 4.15 and a beta of 1.46. Marvell Technology has a 52-week low of $50.56 and a 52-week high of $119.88. 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 Announces Dividend

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

Insider Activity at Marvell Technology

In other Marvell Technology news, Director Ford Tamer sold 92,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the completion of the sale, the director now directly owns 351,193 shares in the company, valued at approximately $26,044,472.88. The trade was a 20.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 267,000 shares of company stock worth $20,899,260 over the last quarter. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Several institutional investors and hedge funds have recently modified their holdings of MRVL. Mather Group LLC. lifted its holdings in Marvell Technology by 18.8% in the second quarter. Mather Group LLC. now owns 5,270 shares of the semiconductor company’s stock valued at $374,000 after acquiring an additional 834 shares during the period. CWM LLC increased its holdings in shares of Marvell Technology by 35.5% during the 2nd quarter. CWM LLC now owns 21,362 shares of the semiconductor company’s stock valued at $1,493,000 after purchasing an additional 5,601 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in shares of Marvell Technology by 12.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 9,840 shares of the semiconductor company’s stock valued at $688,000 after purchasing an additional 1,105 shares during the period. Csenge Advisory Group boosted its holdings in Marvell Technology by 30.6% during the second quarter. Csenge Advisory Group now owns 4,131 shares of the semiconductor company’s stock worth $289,000 after buying an additional 967 shares in the last quarter. Finally, Register Financial Advisors LLC grew its position in Marvell Technology by 5.1% during the second quarter. Register Financial Advisors LLC now owns 8,205 shares of the semiconductor company’s stock valued at $574,000 after buying an additional 401 shares during the period. 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.