Marvell Technology, Inc. (NASDAQ:MRVL) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) have been assigned an average rating of “Moderate Buy” from the twenty-seven research firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, twenty-four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $127.60.

MRVL has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, January 6th. Loop Capital lifted their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. TD Cowen raised their price objective on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. KeyCorp raised their price objective on shares of Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Craig Hallum lifted their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a report on Monday, January 6th.

Insider Activity at Marvell Technology

In other news, Director Michael G. Strachan sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the completion of the transaction, the director now directly owns 30,959 shares in the company, valued at approximately $3,797,121.35. The trade was a 13.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the transaction, the chief financial officer now owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock valued at $4,361,430 over the last three months. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Marvell Technology

A number of institutional investors have recently added to or reduced their stakes in MRVL. Mackenzie Financial Corp increased its stake in shares of Marvell Technology by 30.8% in the second quarter. Mackenzie Financial Corp now owns 73,644 shares of the semiconductor company’s stock worth $5,148,000 after acquiring an additional 17,342 shares during the last quarter. Creative Planning boosted its holdings in Marvell Technology by 4.1% during the second quarter. Creative Planning now owns 75,454 shares of the semiconductor company’s stock valued at $5,274,000 after acquiring an additional 2,982 shares during the period. Quarry LP bought a new stake in Marvell Technology during the second quarter valued at about $32,000. EP Wealth Advisors LLC boosted its holdings in Marvell Technology by 15.4% during the second quarter. EP Wealth Advisors LLC now owns 7,711 shares of the semiconductor company’s stock valued at $539,000 after acquiring an additional 1,031 shares during the period. Finally, Truist Financial Corp boosted its holdings in Marvell Technology by 15.4% during the second quarter. Truist Financial Corp now owns 974,756 shares of the semiconductor company’s stock valued at $68,135,000 after acquiring an additional 129,831 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Trading Up 0.6 %

Marvell Technology stock opened at $113.56 on Thursday. The stock has a market cap of $98.26 billion, a P/E ratio of -66.80, a PEG ratio of 3.71 and a beta of 1.40. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The firm’s fifty day moving average price is $112.15 and its 200-day moving average price is $87.97. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is -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.