Marvell Technology, Inc. (NASDAQ:MRVL) Receives $127.60 Consensus Price Target from Brokerages

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twenty-seven analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $127.60.

A number of research firms recently weighed in on MRVL. Melius started coverage on Marvell Technology in a research note on Monday. They set a "buy" rating and a $188.00 price target on the stock. Benchmark reissued 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. Morgan Stanley lowered their price objective on Marvell Technology from $120.00 to $113.00 and set an "equal weight" rating for the company in a research note on Tuesday. Susquehanna increased their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock a "positive" rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company increased their price objective on Marvell Technology from $130.00 to $140.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th.

Marvell Technology Stock Up 3.3 %

MRVL stock traded up $3.54 during trading on Thursday, reaching $110.33. 14,543,226 shares of the stock were exchanged, compared to its average volume of 13,237,243. The firm's 50 day moving average is $110.97 and its 200 day moving average is $86.99. Marvell Technology has a twelve month low of $53.19 and a twelve month high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a market cap of $95.47 billion, a P/E ratio of -64.90, a price-to-earnings-growth ratio of 4.12 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. Stockholders of record on Friday, January 10th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Friday, January 10th. Marvell Technology's payout ratio is currently -14.12%.

Insider Transactions at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the sale, the executive vice president now owns 93,931 shares in the company, valued at approximately $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the sale, the chief financial officer now owns 111,211 shares in the company, valued at $13,159,597.63. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,755 shares of company stock valued at $4,361,430 over the last three months. Company insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Marvell Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. Lodestone Wealth Management LLC grew its stake in shares of Marvell Technology by 2.0% in the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock worth $514,000 after purchasing an additional 93 shares during the last quarter. Valley National Advisers Inc. boosted its position in Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company's stock valued at $2,775,000 after acquiring an additional 96 shares in the last quarter. Waldron Private Wealth LLC boosted its position in Marvell Technology by 3.6% during the 4th quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company's stock valued at $327,000 after acquiring an additional 103 shares in the last quarter. Tsfg LLC boosted its position in Marvell Technology by 7.5% during the 4th quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company's stock valued at $176,000 after acquiring an additional 111 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in Marvell Technology by 48.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 112 shares in the last quarter. Hedge funds and other 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.