TD Cowen Lowers Marvell Technology (NASDAQ:MRVL) Price Target to $95.00

Marvell Technology (NASDAQ:MRVL) had its price objective reduced by TD Cowen from $125.00 to $95.00 in a report issued on Thursday morning, MarketBeat.com reports. They currently have a buy rating on the semiconductor company’s stock.

Several other research firms also recently issued reports on MRVL. The Goldman Sachs Group lifted their price target on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Wells Fargo & Company lifted their price target on Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Citigroup boosted their target price on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Rosenblatt Securities upped their target price on shares of Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Craig Hallum upped their target price 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. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.68.

Marvell Technology Trading Down 19.8 %

NASDAQ:MRVL opened at $72.28 on Thursday. The company has a market capitalization of $62.54 billion, a PE ratio of -42.52, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology has a 52-week low of $53.19 and a 52-week high of $127.48. The stock has a fifty day simple moving average of $110.00 and a 200-day simple moving average of $93.82.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors 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 yield of 0.33%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Insider Buying and Selling

In related news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the completion of the sale, the chief operating officer now owns 87,931 shares of the company’s stock, valued at approximately $9,351,461.85. This represents a 6.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Casper sold 7,755 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Marvell Technology

A number of institutional investors and hedge funds have recently bought and sold shares of MRVL. Centricity Wealth Management LLC acquired a new stake in Marvell Technology in the fourth quarter valued at approximately $26,000. ORG Partners LLC grew its position in 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. Rialto Wealth Management LLC acquired a new stake in Marvell Technology in the fourth quarter valued at approximately $27,000. Kieckhefer Group LLC acquired a new stake in Marvell Technology in the fourth quarter valued at approximately $33,000. Finally, Financial Life Planners acquired a new stake in Marvell Technology in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

About Marvell Technology

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.