Marvell Technology, Inc. (NASDAQ:MRVL) Receives $120.44 Average Price Target from Analysts

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) have received an average recommendation of “Buy” from the twenty-eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $120.44.

MRVL has been the topic of a number of recent research reports. Piper Sandler cut their target price on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Loop Capital upgraded Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Thursday, March 6th. Cantor Fitzgerald increased their target price on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Barclays dropped their price objective on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Finally, UBS Group raised their price objective on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th.

Marvell Technology Price Performance

Shares of MRVL opened at $70.39 on Friday. Marvell Technology has a 12-month low of $53.19 and a 12-month high of $127.48. The business’s fifty day moving average is $99.06 and its 200 day moving average is $93.85. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock has a market cap of $60.96 billion, a P/E ratio of -41.41, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total transaction of $177,495.00. Following the completion of the sale, the chief financial officer now owns 111,211 shares in the company, valued at approximately $13,159,597.63. This trade represents a 1.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brad W. Buss bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $69.00 per share, with a total value of $207,000.00. Following the transaction, the director now directly owns 87,113 shares in the company, valued at $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 37,685 shares of company stock worth $4,026,768. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Marvell Technology

A number of hedge funds have recently bought and sold shares of the company. State Street Corp lifted its position in Marvell Technology by 0.3% in the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after buying an additional 68,893 shares during the last quarter. Invesco Ltd. lifted its position in Marvell Technology by 30.1% in the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock worth $1,784,649,000 after buying an additional 3,737,705 shares during the last quarter. Janus Henderson Group PLC lifted its position in Marvell Technology by 6.9% in the 4th quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company’s stock worth $1,462,274,000 after buying an additional 857,087 shares during the last quarter. Wellington Management Group LLP lifted its position in Marvell Technology by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock worth $1,374,252,000 after buying an additional 3,747,982 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Marvell Technology by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock worth $1,263,755,000 after buying an additional 80,005 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Company Profile

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.