Marvell Technology (NASDAQ:MRVL) Upgraded at StockNews.com

StockNews.com upgraded shares of Marvell Technology (NASDAQ:MRVL) from a sell rating to a hold rating in a research report released on Monday morning.

A number of other equities analysts have also recently issued reports on MRVL. Needham & Company LLC restated a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Benchmark boosted their price target on Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. TD Cowen raised Marvell Technology to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Morgan Stanley upped their target price on Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $117.92.

Marvell Technology Stock Up 23.2 %

Shares of Marvell Technology stock opened at $118.15 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. Marvell Technology has a 52-week low of $50.35 and a 52-week high of $119.88. The company’s 50 day moving average price is $84.44 and its 200-day moving average price is $75.04. The stock has a market capitalization of $104.70 billion, a price-to-earnings ratio of -106.44, a P/E/G ratio of 4.19 and a beta of 1.46.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were paid a $0.06 dividend. 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 (DPR) is currently -21.62%.

Insider Buying and Selling

In other news, Director Ford Tamer sold 92,000 shares of Marvell Technology stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the transaction, the director now owns 351,193 shares in the company, valued at $26,044,472.88. This trade represents a 20.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $73.87, for a total value of $110,805.00. Following the completion of the sale, the chief financial officer now owns 111,753 shares of the company’s stock, valued at $8,255,194.11. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,000 shares of company stock valued at $20,899,260 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Several hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC boosted its position in shares of Marvell Technology by 1,481.8% in 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 during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of Marvell Technology during the 2nd quarter valued at $32,000. Quarry LP bought a new position in Marvell Technology in the 2nd quarter worth $32,000. Whittier Trust Co. increased 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 buying an additional 210 shares in the last quarter. Finally, Goodman Advisory Group LLC bought a new stake in Marvell Technology during the third quarter valued at about $37,000. 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.