Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) traded down 4.4% during trading on Friday after Stifel Nicolaus lowered their price target on the stock from $130.00 to $115.00. Stifel Nicolaus currently has a buy rating on the stock. Marvell Technology traded as low as $67.37 and last traded at $69.11. 14,672,685 shares were traded during trading, an increase of 15% from the average session volume of 12,769,562 shares. The stock had previously closed at $72.28.
A number of other brokerages have also recently commented on MRVL. StockNews.com raised Marvell Technology from a "sell" rating to a "hold" rating in a research report on Thursday, January 9th. B. Riley increased their price objective 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 dropped their price objective on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a report on Thursday. KeyCorp dropped their price objective on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday. Finally, Craig Hallum increased their price objective on Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $121.68.
Check Out Our Latest Stock Report on MRVL
Insider Activity
In other news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the transaction, the executive vice president now directly owns 97,244 shares in the company, valued at approximately $11,912,390. This represents a 5.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the 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 transaction, the chief financial officer now owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Marvell Technology
Several institutional investors and hedge funds have recently bought and sold shares of MRVL. True Wealth Design LLC grew its position in Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 326 shares during the last quarter. ORG Partners LLC grew its position in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock worth $26,000 after acquiring an additional 149 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Marvell Technology during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new position in Marvell Technology during the 4th quarter worth approximately $27,000. Finally, Kieckhefer Group LLC bought a new position in Marvell Technology during the 4th quarter worth approximately $33,000. 83.51% of the stock is currently owned by institutional investors.
Marvell Technology Trading Down 2.0 %
The firm has a 50-day moving average of $108.27 and a 200-day moving average of $94.00. 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 firm has a market capitalization of $61.30 billion, a P/E ratio of -41.67, a price-to-earnings-growth 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 dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.34%. Marvell Technology's payout ratio is -23.53%.
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.
Further Reading
Before you consider Marvell Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Marvell Technology wasn't on the list.
While Marvell Technology currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
