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

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

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the sale, the executive vice president now owns 24,706 shares of the company's stock, valued at $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the sale, the executive vice president now directly owns 97,244 shares in the company, valued at $11,912,390. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,255 shares of company stock valued at $3,692,880 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 MRVL. Inspire Investing LLC boosted its stake in shares of Marvell Technology by 5.6% in the third quarter. Inspire Investing LLC now owns 3,981 shares of the semiconductor company's stock valued at $287,000 after purchasing an additional 210 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Marvell Technology by 125.4% in the third quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company's stock valued at $44,000 after purchasing an additional 336 shares during the period. Creative Planning boosted its stake in shares of Marvell Technology by 37.5% in the third quarter. Creative Planning now owns 103,740 shares of the semiconductor company's stock valued at $7,482,000 after purchasing an additional 28,286 shares during the period. NBC Securities Inc. boosted its stake in shares of Marvell Technology by 20.5% in the third quarter. NBC Securities Inc. now owns 2,466 shares of the semiconductor company's stock valued at $177,000 after purchasing an additional 419 shares during the period. Finally, Swedbank AB boosted its stake in shares of Marvell Technology by 1.0% in the third quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company's stock valued at $170,037,000 after purchasing an additional 23,680 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Trading Up 2.9 %

Shares of Marvell Technology stock traded up $3.01 during trading hours on Monday, hitting $106.51. The company's stock had a trading volume of 13,532,440 shares, compared to its average volume of 13,070,750. Marvell Technology has a 1-year low of $53.19 and a 1-year high of $127.48. The business has a fifty day moving average of $113.93 and a 200 day moving average of $91.10. The company has a market capitalization of $92.16 billion, a PE ratio of -62.65, a P/E/G ratio of 1.77 and a beta of 1.40. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology's payout ratio is currently -14.12%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Evercore ISI upped their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the company an "outperform" rating in a research note on Monday, December 2nd. B. Riley upped their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Morgan Stanley reduced their price objective on shares of Marvell Technology from $120.00 to $113.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 28th. KeyCorp upped their price objective on shares of Marvell Technology from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Finally, Melius Research raised shares of Marvell Technology to a "strong-buy" rating in a research note on Monday, January 27th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $127.60.

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.