Marvell Technology (NASDAQ:MRVL) Trading 3.2% Higher on Analyst Upgrade

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report)'s share price rose 3.2% during mid-day trading on Friday after Barclays raised their price target on the stock from $115.00 to $150.00. Barclays currently has an overweight rating on the stock. Marvell Technology traded as high as $121.50 and last traded at $121.30. Approximately 2,462,138 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 9,732,751 shares. The stock had previously closed at $117.58.

Several other research firms have also commented on MRVL. Susquehanna raised their price target on Marvell Technology from $110.00 to $125.00 and gave the stock a "positive" rating in a research report on Wednesday, December 4th. Bank of America boosted their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Morgan Stanley raised their price objective on shares of Marvell Technology from $102.00 to $120.00 and gave the company an "equal weight" rating in a research note on Friday, December 20th. KeyCorp raised their price target on shares of Marvell Technology from $95.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Finally, Rosenblatt Securities lifted their target price on Marvell Technology from $120.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $123.08.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business's stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the transaction, the executive vice president now owns 109,244 shares in the company, valued at approximately $8,823,637.88. The trade was a 5.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the sale, the chief financial officer now owns 114,211 shares in the company, valued at approximately $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,500 shares of company stock valued at $2,967,670. 0.33% of the stock is owned by company insiders.

Institutional Trading of Marvell Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Davidson Kempner Capital Management LP raised its holdings in Marvell Technology by 26.5% during the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company's stock worth $17,482,000 after purchasing an additional 52,365 shares during the last quarter. Braun Stacey Associates Inc. purchased a new stake in shares of Marvell Technology in the 3rd quarter worth about $16,435,000. Charles Schwab Investment Management Inc. grew its stake in Marvell Technology by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company's stock valued at $235,247,000 after acquiring an additional 66,654 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Marvell Technology by 23.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company's stock valued at $206,418,000 after acquiring an additional 535,203 shares in the last quarter. Finally, Franchise Capital Ltd acquired a new position in Marvell Technology during the fourth quarter worth about $1,476,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Marvell Technology Stock Up 6.1 %

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's fifty day simple moving average is $106.09 and its 200-day simple moving average is $84.09. The company has a market cap of $107.95 billion, a PE ratio of -73.39, a P/E/G ratio of 3.76 and a beta of 1.41.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. Marvell Technology's dividend payout ratio (DPR) is -14.12%.

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.