Melius initiated coverage on shares of Marvell Technology (NASDAQ:MRVL – Free Report) in a report published on Monday, Marketbeat.com reports. The brokerage issued a buy rating and a $188.00 price target on the semiconductor company’s stock.
A number of other equities research analysts also recently weighed in on MRVL. Citigroup upped their price target on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Stifel Nicolaus upped 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. UBS Group upped their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Needham & Company LLC upped their price objective 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. Finally, Wells Fargo & Company upped their price objective on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.88.
Get Our Latest Research Report on Marvell Technology
Marvell Technology Price Performance
Marvell Technology Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be given a $0.06 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.24%. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.
Insider Buying and Selling at Marvell Technology
In other news, 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 in the company, valued at approximately $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the sale, the director now owns 30,959 shares of the company’s stock, valued at approximately $3,797,121.35. This trade represents a 13.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is currently owned by company insiders.
Institutional Trading of Marvell Technology
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Valley National Advisers Inc. increased its stake in shares of Marvell Technology by 0.4% in the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after buying an additional 96 shares in the last quarter. Waldron Private Wealth LLC increased its position in Marvell Technology by 3.6% in the fourth quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock worth $327,000 after purchasing an additional 103 shares during the period. Tsfg LLC increased its position in Marvell Technology by 7.5% in the fourth quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock worth $176,000 after purchasing an additional 111 shares during the period. GHP Investment Advisors Inc. increased its position in Marvell Technology by 48.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 112 shares during the period. Finally, Citizens Financial Group Inc. RI increased its position in Marvell Technology by 1.5% in the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after purchasing an additional 116 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.
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.
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