Shares of Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) traded up 1% during mid-day trading on Monday . The stock traded as high as $56.03 and last traded at $53.91. 5,095,137 shares changed hands during trading, a decline of 62% from the average session volume of 13,401,356 shares. The stock had previously closed at $53.39.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on MRVL. Craig Hallum upped their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the company a "buy" rating in a report on Monday, January 6th. Citigroup dropped their target price on Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, April 11th. KeyCorp reduced their price target on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Morgan Stanley dropped their price target on shares of Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 6th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $140.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $116.41.
Read Our Latest Report on MRVL
Marvell Technology Stock Down 0.4 %
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 company has a market cap of $44.78 billion, a P/E ratio of -30.41, a PEG ratio of 1.61 and a beta of 1.78. The firm's 50-day simple moving average is $73.72 and its 200 day simple moving average is $91.24.
Marvell Technology Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.46%. Marvell Technology's dividend payout ratio is presently -23.53%.
Insider Buying and Selling
In related news, CAO Panteha Dixon sold 1,430 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the sale, the chief accounting officer now owns 31,100 shares in the company, valued at approximately $2,138,125. This 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 hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the company's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the sale, the executive vice president now owns 93,931 shares in the company, valued at approximately $11,685,016.40. This represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,930 shares of company stock valued at $1,999,038. Company insiders own 0.33% of the company's stock.
Institutional Investors Weigh In On Marvell Technology
A number of large investors have recently added to or reduced their stakes in MRVL. ORG Partners LLC boosted its holdings 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 acquiring an additional 149 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Marvell Technology in the 4th quarter worth about $26,000. Rialto Wealth Management LLC purchased a new stake in Marvell Technology in the 4th quarter valued at $27,000. Kieckhefer Group LLC bought a new stake in Marvell Technology in the 4th quarter worth about $33,000. Finally, Financial Life Planners purchased a new stake in Marvell Technology during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 83.51% of the company's stock.
Marvell Technology Company Profile
(
Get Free Report)
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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