Marvell Technology, Inc. (NASDAQ:MRVL) Short Interest Down 21.1% in January

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) was the target of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 15,980,000 shares, a drop of 21.1% from the January 15th total of 20,250,000 shares. Based on an average trading volume of 14,020,000 shares, the days-to-cover ratio is presently 1.1 days.

Analysts Set New Price Targets

MRVL has been the subject of several research analyst reports. Rosenblatt Securities boosted their target price on Marvell Technology from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Morgan Stanley dropped their price objective on shares of Marvell Technology from $120.00 to $113.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. Cantor Fitzgerald boosted their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Benchmark reaffirmed a "buy" rating and set a $135.00 target price (up previously from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Finally, William Blair raised shares of Marvell Technology to a "strong-buy" rating in a research note on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $127.60.

Marvell Technology Trading Up 0.7 %

Shares of Marvell Technology stock traded up $0.78 on Tuesday, reaching $107.29. 9,726,389 shares of the company's stock were exchanged, compared to its average volume of 13,058,263. The company has a market capitalization of $92.84 billion, a P/E ratio of -63.11, a price-to-earnings-growth ratio of 1.77 and a beta of 1.40. Marvell Technology has a 52 week low of $53.19 and a 52 week high of $127.48. 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 50-day moving average is $113.93 and its two-hundred day moving average is $91.10.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology's payout ratio is -14.12%.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the firm's stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares of the company's stock, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,255 shares of company stock valued at $3,692,880. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Marvell Technology

Institutional investors have recently made changes to their positions in the stock. Intrepid Financial Planning Group LLC increased its position in Marvell Technology by 0.3% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock valued at $2,860,000 after buying an additional 90 shares in the last quarter. PDS Planning Inc grew its stake in Marvell Technology by 3.3% in the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock valued at $319,000 after acquiring an additional 92 shares during the period. Lodestone Wealth Management LLC increased its holdings in shares of Marvell Technology by 2.0% during the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock valued at $514,000 after acquiring an additional 93 shares in the last quarter. Valley National Advisers Inc. raised its position in shares of Marvell Technology by 0.4% during the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company's stock worth $2,775,000 after purchasing an additional 96 shares during the period. Finally, Private Trust Co. NA lifted its holdings in shares of Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock worth $414,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

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.