Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) shares rose 2.9% during trading on Monday . The company traded as high as $107.02 and last traded at $106.51. Approximately 13,532,440 shares were traded during mid-day trading, an increase of 4% from the average daily volume of 13,070,750 shares. The stock had previously closed at $103.50.
Analyst Upgrades and Downgrades
MRVL has been the topic of a number of research reports. B. Riley boosted their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Evercore ISI lifted their target price on Marvell Technology from $98.00 to $122.00 and gave the stock an "outperform" rating in a report on Monday, December 2nd. Bank of America lifted their price target on Marvell Technology from $108.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Rosenblatt Securities lifted their price target on Marvell Technology from $120.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Finally, Citigroup lifted their price objective on Marvell Technology from $91.00 to $112.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Marvell Technology presently has a consensus rating of "Moderate Buy" and an average target price of $127.60.
Check Out Our Latest Analysis on Marvell Technology
Marvell Technology Stock Performance
The stock has a fifty day simple moving average of $113.93 and a 200-day simple moving average of $91.69. The stock has a market cap of $94.03 billion, a P/E ratio of -63.92, a PEG ratio of 1.59 and a beta of 1.40. 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 Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology's payout ratio is -14.12%.
Insider Activity
In other news, EVP Mark Casper sold 2,500 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the transaction, the executive vice president now owns 24,706 shares in the company, valued at $2,791,778. This trade represents a 9.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the transaction, the chief financial officer now owns 112,711 shares of the company's stock, valued at $13,807,097.50. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock worth $4,330,980 in the last quarter. Corporate insiders own 0.33% of the company's stock.
Hedge Funds Weigh In On Marvell Technology
Several hedge funds have recently modified their holdings of the stock. True Wealth Design LLC lifted its stake in Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 326 shares during the last quarter. ORG Partners LLC lifted its stake in Marvell Technology by 175.3% in 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 during the last quarter. Centricity Wealth Management LLC acquired a new stake in Marvell Technology in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new stake in Marvell Technology in the 4th quarter valued at about $27,000. Finally, Kieckhefer Group LLC acquired a new stake in Marvell Technology in the 4th quarter valued at about $33,000. Institutional investors 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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