Marvell Technology (NASDAQ:MRVL) Trading Up 3.2% on Analyst Upgrade

Marvell Technology, Inc. (NASDAQ:MRVL) was up 3.2% during mid-day trading on Friday after Barclays raised their price target on the stock from $115.00 to $150.00. Barclays currently has an overweight rating on the stock. Marvell Technology traded as high as $121.50 and last traded at $121.30. Approximately 2,462,138 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 9,732,751 shares. The stock had previously closed at $117.58.

Other research analysts have also issued reports about the company. Cantor Fitzgerald raised their target price on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company raised their price objective on Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. UBS Group increased their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Evercore ISI boosted their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Finally, Citigroup increased their price objective on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.08.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction 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 directly owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the transaction, the executive vice president now directly owns 109,244 shares in the company, valued at $8,823,637.88. This represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,755 shares of company stock worth $4,099,650 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Institutional investors have recently added to or reduced their stakes in the company. ORG Partners LLC grew its holdings in shares of Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Kieckhefer Group LLC bought a new position in Marvell Technology in the 4th quarter valued at $33,000. True Wealth Design LLC increased its position in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the last quarter. Quarry LP bought a new stake in shares of Marvell Technology during the 2nd quarter worth $32,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Marvell Technology in the 2nd quarter worth about $32,000. 83.51% of the stock is owned by institutional investors.

Marvell Technology Stock Performance

The company’s 50-day moving average is $106.70 and its two-hundred day moving average is $84.55. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The company has a market cap of $107.95 billion, a P/E ratio of -73.39, a price-to-earnings-growth ratio of 3.76 and a beta of 1.41.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.19%. Marvell Technology’s payout ratio is currently -14.12%.

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.