Marvell Technology (NASDAQ:MRVL) Price Target Raised to $150.00 at Barclays

Marvell Technology (NASDAQ:MRVL - Free Report) had its target price raised by Barclays from $115.00 to $150.00 in a research note published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the semiconductor company's stock.

A number of other research firms also recently commented on MRVL. Evercore ISI lifted their target price on Marvell Technology from $98.00 to $122.00 and gave the company an "outperform" rating in a research report on Monday, December 2nd. Citigroup increased their target price on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their price objective on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an "overweight" rating in a report on Monday. KeyCorp boosted their target price on Marvell Technology from $95.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Finally, Bank of America boosted their price objective on Marvell Technology from $108.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $123.08.

Marvell Technology Trading Up 6.2 %

NASDAQ:MRVL traded up $7.24 on Friday, hitting $124.82. The stock had a trading volume of 12,811,651 shares, compared to its average volume of 10,590,779. The company has a fifty day moving average price of $106.09 and a two-hundred day moving average price of $84.09. Marvell Technology has a 1-year low of $53.19 and a 1-year high of $126.15. 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 $108.01 billion, a price-to-earnings ratio of -73.42, a PEG ratio of 3.76 and a beta of 1.41.

Marvell Technology Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 0.19%. Marvell Technology's dividend payout ratio (DPR) is presently -14.12%.

Insiders Place Their Bets

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the firm's stock in a transaction on Friday, November 15th. The shares were 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 approximately $9,203,170.16. This trade represents a 5.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company'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 completion of the sale, the chief financial officer now directly owns 114,211 shares of the company's stock, valued at $10,180,768.54. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,500 shares of company stock valued at $2,967,670. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Marvell Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in MRVL. Federated Hermes Inc. raised its stake in shares of 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 purchasing an additional 8,666 shares during the last quarter. Argent Trust Co increased its stake in Marvell Technology by 4.2% in the 2nd quarter. Argent Trust Co now owns 6,753 shares of the semiconductor company's stock valued at $472,000 after buying an additional 275 shares during the period. Mercer Global Advisors Inc. ADV raised its position in Marvell Technology by 21.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 33,540 shares of the semiconductor company's stock worth $2,344,000 after buying an additional 5,969 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Marvell Technology by 17.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 58,531 shares of the semiconductor company's stock worth $4,075,000 after acquiring an additional 8,823 shares during the period. Finally, XTX Topco Ltd boosted its holdings in shares of Marvell Technology by 239.0% in the second quarter. XTX Topco Ltd now owns 23,373 shares of the semiconductor company's stock valued at $1,634,000 after acquiring an additional 16,478 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

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.