Analysts Set Marvell Technology, Inc. (NASDAQ:MRVL) Price Target at $119.04

Marvell Technology, Inc. (NASDAQ:MRVL) has been given a consensus rating of “Moderate Buy” by the twenty-six brokerages that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and twenty-four have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $119.04.

A number of equities research analysts have issued reports on MRVL shares. Evercore ISI increased their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Needham & Company LLC increased their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $125.00 target price (up previously from $114.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Susquehanna increased their target price on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th. Finally, Benchmark reiterated a “buy” rating and issued a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th.

Insiders Place Their Bets

In other news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the transaction, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total value of $177,075.00. Following the completion of the sale, the executive vice president now owns 22,494 shares of the company’s stock, valued at $1,593,250.02. The trade was a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 175,000 shares of company stock valued at $14,076,540. 0.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marvell Technology

A number of large investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC increased its position in Marvell Technology by 7.0% during the second quarter. Sequoia Financial Advisors LLC now owns 11,901 shares of the semiconductor company’s stock valued at $832,000 after acquiring an additional 778 shares during the last quarter. Diversified Trust Co bought a new position in shares of Marvell Technology in the 2nd quarter worth approximately $932,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Marvell Technology by 5.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 49,731 shares of the semiconductor company’s stock worth $3,476,000 after buying an additional 2,441 shares during the last quarter. Great Valley Advisor Group Inc. grew its position in Marvell Technology by 16.8% during the second quarter. Great Valley Advisor Group Inc. now owns 6,324 shares of the semiconductor company’s stock valued at $442,000 after buying an additional 909 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its position in Marvell Technology by 1.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 72,893 shares of the semiconductor company’s stock worth $5,095,000 after acquiring an additional 966 shares during the period. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Up 10.8 %

Marvell Technology stock opened at $120.77 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology has a 1 year low of $53.19 and a 1 year high of $121.86. The firm has a market cap of $104.50 billion, a price-to-earnings ratio of -71.04, a price-to-earnings-growth ratio of 3.72 and a beta of 1.46. The firm’s 50 day moving average price is $89.98 and its two-hundred day moving average price is $76.82.

Marvell Technology Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.20%. Marvell Technology’s dividend payout ratio is currently -14.12%.

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.