Marvell Technology (NASDAQ:MRVL) Given New $125.00 Price Target at Susquehanna

Marvell Technology (NASDAQ:MRVL) had its target price lifted by Susquehanna from $110.00 to $125.00 in a research note released on Wednesday morning, MarketBeat.com reports. The firm currently has a positive rating on the semiconductor company’s stock.

Several other research analysts have also recently weighed in on the stock. Stifel Nicolaus restated a “buy” rating and issued a $95.00 price objective (up from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. The Goldman Sachs Group upped their price objective on shares of Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Barclays upped their price objective on shares of Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday. Benchmark restated a “buy” rating and issued a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a research report on Wednesday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $117.92.

Marvell Technology Trading Up 23.2 %

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

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology’s payout ratio is -21.62%.

Insider Buying and Selling

In related news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the sale, the executive vice president now owns 109,244 shares of the company’s stock, valued at $8,823,637.88. This trade represents a 5.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at $10,180,768.54. The trade was a 1.30 % decrease in their position. 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 quarter. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Marvell Technology

Institutional investors have recently added to or reduced their stakes in the company. True Wealth Design LLC raised its holdings in 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 in the last quarter. Quarry LP bought a new position in Marvell Technology in the second quarter worth $32,000. Strategic Investment Solutions Inc. IL bought a new position in Marvell Technology in the second quarter worth $32,000. Whittier Trust Co. raised its holdings in Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 210 shares in the last quarter. Finally, Goodman Advisory Group LLC bought a new position in Marvell Technology in the third quarter worth $37,000. Institutional investors 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.