Marvell Technology, Inc. (NASDAQ:MRVL) Short Interest Update

Marvell Technology, Inc. (NASDAQ:MRVL) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 19,540,000 shares, an increase of 22.3% from the January 31st total of 15,980,000 shares. Based on an average daily trading volume, of 14,680,000 shares, the short-interest ratio is currently 1.3 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report 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. Bank of America lifted their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. UBS Group increased their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Benchmark restated a “buy” rating and set a $135.00 price objective (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Stock Down 1.6 %

Shares of MRVL traded down $1.41 during trading hours on Wednesday, reaching $86.93. The company’s stock had a trading volume of 7,199,040 shares, compared to its average volume of 12,471,516. 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 1-year low of $53.19 and a 1-year high of $127.48. The company has a 50 day moving average of $110.52 and a two-hundred day moving average of $93.84. The firm has a market cap of $75.22 billion, a price-to-earnings ratio of -51.24, a P/E/G ratio of 1.61 and a beta of 1.40.

Marvell Technology Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 0.28%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is presently -14.12%.

Insider Buying and Selling at Marvell Technology

In related news, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares in the company, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the transaction, the executive vice president now owns 97,244 shares in the company, valued at $11,912,390. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,255 shares of company stock valued at $4,330,980 in the last ninety days. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Swedbank AB increased its holdings in shares of Marvell Technology by 1.0% during the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after acquiring an additional 23,680 shares during the last quarter. Stephens Inc. AR raised its holdings in Marvell Technology by 16.2% in the 3rd quarter. Stephens Inc. AR now owns 8,407 shares of the semiconductor company’s stock worth $606,000 after acquiring an additional 1,175 shares during the period. Janney Montgomery Scott LLC lifted its position in Marvell Technology by 3.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 123,031 shares of the semiconductor company’s stock worth $8,873,000 after acquiring an additional 3,855 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Marvell Technology by 83.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 141,994 shares of the semiconductor company’s stock valued at $10,241,000 after acquiring an additional 64,465 shares during the period. Finally, National Pension Service increased its stake in shares of Marvell Technology by 13.6% in the third quarter. National Pension Service now owns 1,903,470 shares of the semiconductor company’s stock worth $137,278,000 after purchasing an additional 227,439 shares during the period. 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.