Marvell Technology (NASDAQ:MRVL - Free Report) had its price objective decreased by Stifel Nicolaus from $130.00 to $115.00 in a research note released on Thursday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company's stock.
A number of other research analysts also recently weighed in on the stock. Melius Research upgraded shares of Marvell Technology to a "strong-buy" rating in a report on Monday, January 27th. Rosenblatt Securities reiterated a "buy" rating and issued a $140.00 target price on shares of Marvell Technology in a research note on Thursday. Barclays lowered their target price on shares of Marvell Technology from $150.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday. UBS Group raised their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Finally, Susquehanna raised their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company a "positive" rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $121.68.
Check Out Our Latest Stock Report on Marvell Technology
Marvell Technology Stock Down 2.0 %
Shares of Marvell Technology stock traded down $1.44 during midday trading on Thursday, reaching $70.84. 38,787,463 shares of the company's stock traded hands, compared to its average volume of 12,675,750. The company has a market cap of $61.30 billion, a price-to-earnings ratio of -41.67, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company's 50 day simple moving average is $108.27 and its 200 day simple moving average is $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. Marvell Technology has a 52 week low of $53.19 and a 52 week high of $127.48.
Marvell Technology Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology's dividend payout ratio is currently -23.53%.
Insider Activity at Marvell Technology
In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business'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 $735,000.00. Following the completion of the transaction, the executive vice president now directly owns 97,244 shares of the company's stock, valued at approximately $11,912,390. The trade was a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the transaction, the chief financial officer now directly owns 112,711 shares of the company's stock, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock valued at $4,330,980 in the last ninety days. Insiders own 0.33% of the company's stock.
Hedge Funds Weigh In On Marvell Technology
Institutional investors have recently modified their holdings of the stock. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology in the fourth quarter worth about $26,000. ORG Partners LLC raised its stake in shares of Marvell Technology by 175.3% in the fourth 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. Rialto Wealth Management LLC bought a new position in shares of Marvell Technology in the fourth quarter worth about $27,000. Kieckhefer Group LLC bought a new position in shares of Marvell Technology in the fourth quarter worth about $33,000. Finally, Financial Life Planners bought a new position in shares of Marvell Technology in the fourth quarter worth about $33,000. 83.51% of the stock is owned by institutional investors.
About Marvell Technology
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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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