Shares of Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) saw unusually-high trading volume on Friday following insider buying activity. Approximately 9,874,433 shares were traded during trading, a decline of 23% from the previous session's volume of 12,753,570 shares.The stock last traded at $68.00 and had previously closed at $72.28.
Specifically, Director Brad W. Buss acquired 3,000 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the purchase, the director now directly owns 87,113 shares in the company, valued at $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.
Analysts Set New Price Targets
Several research firms have issued reports on MRVL. Cantor Fitzgerald raised their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. TD Cowen lowered their target price on shares of Marvell Technology from $125.00 to $95.00 and set a "buy" rating for the company in a research note on Thursday. KeyCorp cut their price target on shares of Marvell Technology from $135.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday. Morgan Stanley lowered their price objective on Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating for the company in a research report on Thursday. Finally, B. Riley upped their target price on Marvell Technology from $105.00 to $135.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Three equities research 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 company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $121.68.
Read Our Latest Research Report on Marvell Technology
Marvell Technology Trading Down 2.0 %
The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average price of $108.27 and a 200 day moving average price of $93.84. The stock has a market capitalization of $61.30 billion, a PE ratio of -41.67, a P/E/G ratio of 1.61 and a beta of 1.42.
Marvell Technology Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Friday, January 10th. Marvell Technology's payout ratio is currently -23.53%.
Hedge Funds Weigh In On Marvell Technology
Large investors have recently bought and sold shares of the stock. Intrepid Financial Planning Group LLC grew 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 worth $2,860,000 after purchasing an additional 90 shares in the last quarter. PDS Planning Inc boosted its stake in shares of Marvell Technology by 3.3% in the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock worth $319,000 after buying an additional 92 shares during the last quarter. Lodestone Wealth Management LLC grew its holdings 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 valued at $514,000 after acquiring an additional 93 shares in the last quarter. Valley National Advisers Inc. increased 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 valued at $2,775,000 after acquiring an additional 96 shares during the last quarter. Finally, Private Trust Co. NA increased its position in shares of Marvell Technology by 2.7% during the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock valued at $414,000 after acquiring an additional 97 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.
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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