Short Interest in Marvell Technology, Inc. (NASDAQ:MRVL) Rises By 22.3%

Marvell Technology, Inc. (NASDAQ:MRVL) was the recipient of a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 19,540,000 shares, an increase of 22.3% from the January 31st total of 15,980,000 shares. Based on an average daily trading volume, of 14,680,000 shares, the days-to-cover ratio is presently 1.3 days.

Analyst Ratings Changes

A number of research firms have recently weighed in on MRVL. Citigroup cut their price target on shares of Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a report on Thursday. Susquehanna raised their target price on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. Morgan Stanley decreased their price objective on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a report on Thursday. Needham & Company LLC cut their target price on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Piper Sandler decreased their target price on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.68.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL traded down $2.57 during midday trading on Friday, reaching $69.72. The company’s stock had a trading volume of 26,954,404 shares, compared to its average volume of 12,817,437. The business’s fifty day simple moving average is $109.13 and its 200-day simple moving average is $93.67. 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 has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The company has a market capitalization of $60.32 billion, a P/E ratio of -40.80, a P/E/G ratio of 1.61 and a beta of 1.40.

Marvell Technology Announces Dividend

The business also recently declared 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. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.34%. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.

Insider Buying and Selling at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the sale, the chief financial officer now owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of the firm’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 transaction of $735,000.00. Following the transaction, the executive vice president now directly owns 97,244 shares in the company, valued at approximately $11,912,390. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MRVL. Swedbank AB increased its stake in shares of Marvell Technology by 1.0% in the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after buying an additional 23,680 shares during the period. Stephens Inc. AR increased its position in Marvell Technology by 16.2% in the third quarter. Stephens Inc. AR now owns 8,407 shares of the semiconductor company’s stock worth $606,000 after purchasing an additional 1,175 shares during the period. Janney Montgomery Scott LLC raised its holdings in Marvell Technology by 3.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 123,031 shares of the semiconductor company’s stock worth $8,873,000 after purchasing an additional 3,855 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Marvell Technology by 83.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 141,994 shares of the semiconductor company’s stock valued at $10,241,000 after purchasing an additional 64,465 shares during the period. Finally, National Pension Service boosted its stake in shares of Marvell Technology by 13.6% in the 3rd quarter. National Pension Service now owns 1,903,470 shares of the semiconductor company’s stock valued at $137,278,000 after purchasing an additional 227,439 shares during the last quarter. Institutional investors 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.