Brokerages Set Marvell Technology, Inc. (NASDAQ:MRVL) PT at $119.76

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) have been given an average rating of “Moderate Buy” by the twenty-six analysts that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and twenty-four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $120.64.

A number of brokerages recently commented on MRVL. Oppenheimer increased their price target on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. UBS Group increased their target price on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley boosted their price target on shares of Marvell Technology from $102.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. The Goldman Sachs Group lifted their price objective on shares of Marvell Technology from $87.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Craig Hallum boosted their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a report on Monday.

Marvell Technology Stock Performance

MRVL opened at $116.23 on Friday. The stock has a market capitalization of $100.57 billion, a price-to-earnings ratio of -68.37, a PEG ratio of 4.03 and a beta of 1.41. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The company has a fifty day moving average of $101.87 and a 200 day moving average of $81.95.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Marvell Technology’s payout ratio is -14.12%.

Insiders Place Their Bets

In other Marvell Technology news, CEO Matthew J. Murphy acquired 13,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were bought at an average cost of $77.63 per share, with a total value of $1,009,190.00. Following the completion of the acquisition, the chief executive officer now directly owns 221,915 shares in the company, valued at $17,227,261.45. This represents a 6.22 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the sale, the executive vice president now owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 175,000 shares of company stock worth $14,550,170 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC increased its position in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Marvell Technology during the second quarter valued at $32,000. Quarry LP acquired a new position in shares of Marvell Technology in the 2nd quarter valued at $32,000. Whittier Trust Co. raised its stake in 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 acquiring an additional 210 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new stake in Marvell Technology during the 3rd quarter valued at about $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.