Marvell Technology, Inc. (NASDAQ:MRVL) Receives Average Recommendation of "Buy" from Analysts

Shares of Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) have received a consensus recommendation of "Buy" from the twenty-eight research firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, twenty-four have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $120.44.

Several research analysts recently issued reports on MRVL shares. Needham & Company LLC cut their target price on Marvell Technology from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Melius began coverage on shares of Marvell Technology in a research note on Monday, January 27th. They issued a "buy" rating and a $188.00 target price on the stock. William Blair upgraded Marvell Technology to a "strong-buy" rating in a research report on Wednesday, February 5th. KeyCorp reduced their price target on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. Finally, TD Cowen cut their target price on Marvell Technology from $125.00 to $95.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th.

Insider Buying and Selling at Marvell Technology

In other news, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the transaction, the chief accounting officer now directly owns 31,100 shares in the company, valued at $2,138,125. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark Casper sold 2,500 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the transaction, the executive vice president now owns 24,706 shares of the company's stock, valued at approximately $2,791,778. This trade represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,685 shares of company stock valued at $4,026,768 over the last three months. 0.33% of the stock is owned by company insiders.

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Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its position in Marvell Technology by 0.3% during the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company's stock worth $1,438,336,000 after acquiring an additional 68,893 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Marvell Technology by 30.1% in the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock valued at $1,784,649,000 after purchasing an additional 3,737,705 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Marvell Technology by 6.9% during the fourth quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company's stock worth $1,462,274,000 after buying an additional 857,087 shares during the last quarter. Wellington Management Group LLP lifted its stake in Marvell Technology by 43.1% in the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock valued at $1,374,252,000 after buying an additional 3,747,982 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Marvell Technology by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company's stock valued at $1,263,755,000 after buying an additional 80,005 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Marvell Technology Trading Up 3.4 %

Shares of NASDAQ:MRVL traded up $2.37 during trading on Friday, reaching $72.76. The stock had a trading volume of 12,174,487 shares, compared to its average volume of 12,604,465. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm's fifty day moving average is $99.06 and its 200 day moving average is $93.85. Marvell Technology has a 52 week low of $53.19 and a 52 week high of $127.48. The stock has a market cap of $63.01 billion, a price-to-earnings ratio of -42.80, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology's dividend payout ratio is currently -23.53%.

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.