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

Marvell Technology (NASDAQ:MRVL) had its target price raised by Susquehanna from $110.00 to $125.00 in a report published on Wednesday morning, MarketBeat.com reports. Susquehanna currently has a positive rating on the semiconductor company’s stock.

Several other research firms have also recently commented on MRVL. Morgan Stanley increased their price objective on Marvell Technology from $82.00 to $102.00 and gave the company an “equal weight” rating in a research report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. B. Riley increased their price objective on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 target price (up from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Finally, Bank of America upped their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research 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 data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.92.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $118.15 on Wednesday. Marvell Technology has a 1-year low of $50.35 and a 1-year high of $119.88. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The business has a fifty day moving average price of $84.44 and a 200-day moving average price of $75.04. The company has a market capitalization of $104.70 billion, a PE ratio of -106.44, a PEG ratio of 4.19 and a beta of 1.46.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.20%. Marvell Technology’s dividend payout ratio is presently -21.62%.

Insider Buying and Selling

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the sale, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at $10,180,768.54. The trade was a 1.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the business’s 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 sale, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at approximately $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 ninety days, insiders sold 267,000 shares of company stock valued at $20,899,260. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Several hedge funds have recently modified their holdings of MRVL. True Wealth Design LLC lifted its position in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Marvell Technology in the 2nd quarter worth approximately $32,000. Quarry LP purchased a new stake in shares of Marvell Technology in the 2nd quarter worth approximately $32,000. Whittier Trust Co. lifted its position in shares of Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 210 shares during the period. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Marvell Technology in the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors 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.