Marvell Technology (NASDAQ:MRVL) Price Target Raised to $120.00

Marvell Technology (NASDAQ:MRVL) had its price objective raised by Morgan Stanley from $102.00 to $120.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the semiconductor company’s stock.

Other research analysts have also issued research reports about the company. Susquehanna increased their target price on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, December 4th. Citigroup raised their price objective on Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. UBS Group upped their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler restated an “overweight” rating and issued a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $119.76.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $111.90 on Friday. 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 1 year low of $53.19 and a 1 year high of $126.15. The company’s 50-day moving average is $93.92 and its 200 day moving average is $78.32. The stock has a market capitalization of $96.83 billion, a P/E ratio of -65.82, a P/E/G ratio of 4.03 and a beta of 1.46.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total transaction of $177,075.00. Following the completion of the sale, the executive vice president now directly owns 22,494 shares in the company, valued at $1,593,250.02. The trade was a 10.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the transaction, the insider now owns 694,487 shares in the company, valued at $55,906,203.50. This trade represents a 17.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 175,000 shares of company stock worth $14,444,745. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MRVL. Citizens Financial Group Inc. RI lifted its position in Marvell Technology by 1.5% during the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock valued at $566,000 after purchasing an additional 116 shares in the last quarter. Crumly & Associates Inc. lifted its position in shares of Marvell Technology by 1.5% during the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock valued at $593,000 after buying an additional 121 shares in the last quarter. United Capital Management of KS Inc. grew its stake in shares of Marvell Technology by 0.4% during the 3rd quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after acquiring an additional 131 shares during the period. Integrated Wealth Concepts LLC grew its stake in shares of Marvell Technology by 1.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock valued at $716,000 after acquiring an additional 139 shares during the period. Finally, ASB Consultores LLC increased its holdings in Marvell Technology by 3.8% in the 3rd quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock worth $276,000 after acquiring an additional 140 shares in the last quarter. 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.