Marvell Technology, Inc. (NASDAQ:MRVL) Sees Large Increase in Short Interest

Marvell Technology, Inc. (NASDAQ:MRVL) saw a significant increase in short interest in February. As of February 15th, there was short interest totalling 19,540,000 shares, an increase of 22.3% from the January 31st total of 15,980,000 shares. Based on an average daily trading volume, of 14,680,000 shares, the short-interest ratio is presently 1.3 days.

Marvell Technology Trading Down 1.6 %

Shares of NASDAQ MRVL traded down $1.41 during midday trading on Wednesday, hitting $86.93. The stock had a trading volume of 7,199,040 shares, compared to its average volume of 12,471,516. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology has a 1-year low of $53.19 and a 1-year high of $127.48. The company has a market capitalization of $75.22 billion, a price-to-earnings ratio of -51.24, a PEG ratio of 1.61 and a beta of 1.40. The company has a fifty day moving average price of $110.52 and a 200 day moving average price of $93.84.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid 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 0.28%. Marvell Technology’s dividend payout ratio is currently -14.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MRVL shares. The Goldman Sachs Group increased their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Evercore ISI increased their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Stifel Nicolaus raised their price objective on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. UBS Group upped their target price on 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 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. Three investment 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Insider Buying and Selling at Marvell Technology

In related news, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the sale, the chief operating officer now owns 87,931 shares in the company, valued at $9,351,461.85. This represents a 6.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,255 shares of company stock valued at $4,330,980. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Large investors have recently made changes to their positions in the business. Swedbank AB increased its holdings in Marvell Technology by 1.0% in the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after purchasing an additional 23,680 shares in the last quarter. Stephens Inc. AR grew its stake in shares of Marvell Technology by 16.2% in the third quarter. Stephens Inc. AR now owns 8,407 shares of the semiconductor company’s stock valued at $606,000 after buying an additional 1,175 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Marvell Technology by 3.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 123,031 shares of the semiconductor company’s stock valued at $8,873,000 after buying an additional 3,855 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Marvell Technology by 83.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 141,994 shares of the semiconductor company’s stock worth $10,241,000 after acquiring an additional 64,465 shares in the last quarter. Finally, National Pension Service boosted its holdings in Marvell Technology by 13.6% in the 3rd quarter. National Pension Service now owns 1,903,470 shares of the semiconductor company’s stock worth $137,278,000 after acquiring an additional 227,439 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

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.