Morgan Stanley Issues Positive Forecast for Marvell Technology (NASDAQ:MRVL) Stock Price

Marvell Technology (NASDAQ:MRVL) had its price objective hoisted by Morgan Stanley from $102.00 to $120.00 in a report issued on Friday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the semiconductor company’s stock.

Several other research firms have also recently issued reports on MRVL. Rosenblatt Securities lifted their price objective on shares of Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Oppenheimer boosted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group raised their price objective on Marvell Technology from $87.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Barclays boosted their target price on Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Evercore ISI lifted their price objective on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.76.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $111.90 on Friday. The stock has a 50-day moving average price of $93.92 and a 200 day moving average price of $78.32. The stock has a market capitalization of $96.83 billion, a P/E ratio of -65.82, a P/E/G ratio of 4.03 and a beta of 1.46. Marvell Technology has a 12-month low of $53.19 and a 12-month high of $126.15. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insider Buying and Selling at Marvell Technology

In related news, CEO Matthew J. Murphy acquired 13,000 shares of the stock in a transaction on Monday, October 14th. The stock was bought at an average cost of $77.63 per share, with a total value of $1,009,190.00. Following the transaction, the chief executive officer now directly owns 221,915 shares in the company, valued at approximately $17,227,261.45. This represents a 6.22 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total transaction of $177,075.00. Following the transaction, the executive vice president now directly owns 22,494 shares in the company, valued at approximately $1,593,250.02. This trade represents a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 175,000 shares of company stock valued at $14,444,745 in the last quarter. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Marvell Technology

Hedge funds have recently made changes to their positions in the company. Citizens Financial Group Inc. RI raised its holdings in shares of 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 valued at $566,000 after acquiring an additional 116 shares in the last quarter. Crumly & Associates Inc. increased its position in Marvell Technology by 1.5% during the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock valued at $593,000 after purchasing an additional 121 shares during the period. United Capital Management of KS Inc. raised its holdings in shares of Marvell Technology by 0.4% in the 3rd quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after purchasing an additional 131 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Marvell Technology by 1.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock worth $716,000 after purchasing an additional 139 shares during the period. Finally, ASB Consultores LLC boosted its stake in shares of Marvell Technology by 3.8% during the third quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock valued at $276,000 after purchasing an additional 140 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

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.