Marvell Technology, Inc. (NASDAQ:MRVL) Short Interest Down 22.2% in December

Marvell Technology, Inc. (NASDAQ:MRVL) was the recipient of a significant decline in short interest in December. As of December 31st, there was short interest totalling 19,550,000 shares, a decline of 22.2% from the December 15th total of 25,130,000 shares. Based on an average daily volume of 12,920,000 shares, the short-interest ratio is presently 1.5 days.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the sale, the executive vice president now directly owns 109,244 shares in the company, valued at approximately $8,823,637.88. The trade was a 5.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the transaction, the chief financial officer now owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,500 shares of company stock valued at $2,967,670 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quest Partners LLC lifted its position in shares of Marvell Technology by 1,181.8% in the 2nd quarter. Quest Partners LLC now owns 1,128 shares of the semiconductor company’s stock worth $79,000 after acquiring an additional 1,040 shares during the period. LPL Financial LLC lifted its position in Marvell Technology by 21.2% in the second quarter. LPL Financial LLC now owns 493,524 shares of the semiconductor company’s stock worth $34,497,000 after purchasing an additional 86,419 shares during the period. Federated Hermes Inc. boosted its stake in Marvell Technology by 21.3% during the second quarter. Federated Hermes Inc. now owns 49,412 shares of the semiconductor company’s stock worth $3,454,000 after buying an additional 8,666 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Marvell Technology by 21.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,818,161 shares of the semiconductor company’s stock valued at $127,089,000 after buying an additional 319,433 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Marvell Technology by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,844,719 shares of the semiconductor company’s stock valued at $268,711,000 after buying an additional 25,983 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MRVL. Rosenblatt Securities raised their price objective on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. 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. B. Riley boosted their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Evercore ISI raised their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Finally, The Goldman Sachs Group lifted their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $121.68.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $115.20 on Wednesday. The company has a market cap of $99.68 billion, a price-to-earnings ratio of -67.76, a PEG ratio of 4.03 and a beta of 1.41. The business has a 50 day moving average price of $104.54 and a 200 day moving average price of $83.31. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology has a twelve month low of $53.19 and a twelve month high of $126.15.

Marvell Technology Announces Dividend

The business 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 dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is currently -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.