Marvell Technology (NASDAQ:MRVL - Free Report) had its price objective raised by Barclays from $115.00 to $150.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the semiconductor company's stock.
A number of other analysts have also recently commented on the stock. Oppenheimer upped their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upped their target price on Marvell Technology from $90.00 to $130.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. B. Riley lifted their target price on Marvell Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Piper Sandler reissued an "overweight" rating and issued a $120.00 price target (up from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Finally, Susquehanna raised their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a "positive" rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Marvell Technology has a consensus rating of "Moderate Buy" and a consensus price target of $123.08.
View Our Latest Stock Report on Marvell Technology
Marvell Technology Trading Up 6.1 %
Shares of NASDAQ MRVL traded up $7.18 during midday trading on Friday, reaching $124.76. The stock had a trading volume of 14,849,059 shares, compared to its average volume of 13,008,617. The company's 50 day moving average price is $106.70 and its 200 day moving average price is $84.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology has a twelve month low of $53.19 and a twelve month high of $126.15. The firm has a market cap of $107.95 billion, a price-to-earnings ratio of -73.39, a price-to-earnings-growth ratio of 3.76 and a beta of 1.41.
Marvell Technology Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.19%. Marvell Technology's dividend payout ratio is currently -14.12%.
Insider Transactions at Marvell Technology
In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the firm's stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the sale, the executive vice president now directly owns 109,244 shares of the company's stock, valued at $8,823,637.88. This trade represents a 5.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark Casper sold 7,755 shares of the company's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. Insiders have sold 37,755 shares of company stock worth $4,099,650 in the last 90 days. Insiders own 0.33% of the company's stock.
Institutional Investors Weigh In On Marvell Technology
Several institutional investors have recently made changes to their positions in MRVL. True Wealth Design LLC grew its stake in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 326 shares in the last quarter. ORG Partners LLC grew its position in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Marvell Technology in the second quarter worth $32,000. Quarry LP bought a new position in shares of Marvell Technology in the second quarter worth $32,000. Finally, Kieckhefer Group LLC bought a new stake in Marvell Technology during the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 83.51% of the company's stock.
Marvell Technology Company Profile
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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.
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