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

Marvell Technology, Inc. (NASDAQ:MRVL) has been given an average rating of “Moderate Buy” by the twenty-six brokerages that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and twenty-four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $119.76.

A number of equities analysts have weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and set a $120.00 price target (up previously from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Needham & Company LLC lifted their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Rosenblatt Securities boosted their price target on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company raised their price objective on Marvell Technology from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, TD Cowen increased their price target on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th.

Insider Transactions at Marvell Technology

In other news, CEO Matthew J. Murphy acquired 13,000 shares of the stock in a transaction on Monday, October 14th. The shares were purchased at an average price of $77.63 per share, for a total transaction of $1,009,190.00. Following the transaction, the chief executive officer now directly owns 221,915 shares of the company’s stock, valued at approximately $17,227,261.45. This represents a 6.22 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Muhammad Raghib Hussain sold 150,000 shares of Marvell Technology stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the sale, the insider now directly owns 694,487 shares of the company’s stock, valued at $55,906,203.50. This represents a 17.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 172,500 shares of company stock worth $14,267,670. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MRVL. True Wealth Design LLC grew its position in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying an additional 326 shares in the last quarter. Quarry LP bought a new position in shares of Marvell Technology in the second quarter worth $32,000. Strategic Investment Solutions Inc. IL acquired a new position in Marvell Technology in the second quarter valued at about $32,000. Whittier Trust Co. lifted its position in Marvell Technology by 74.5% during 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 during the period. Finally, Goodman Advisory Group LLC acquired a new stake in Marvell Technology during the third quarter worth about $37,000. 83.51% of the stock is owned by institutional investors.

Marvell Technology Stock Performance

Shares of Marvell Technology stock opened at $118.18 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The firm has a market cap of $102.26 billion, a price-to-earnings ratio of -69.52, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. Marvell Technology has a one year low of $53.19 and a one year high of $126.15. The stock’s 50-day moving average is $100.53 and its 200-day moving average is $81.26.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.20%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

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.