Marvell Technology (NASDAQ:MRVL) Price Target Lowered to $95.00 at TD Cowen

Marvell Technology (NASDAQ:MRVL) had its price objective lowered by TD Cowen from $125.00 to $95.00 in a report published on Thursday morning, MarketBeat.com reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Several other analysts have also recently weighed in on MRVL. Morgan Stanley reaffirmed an “equal weight” rating on shares of Marvell Technology in a report on Friday, February 14th. Citigroup raised their target price on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Summit Insights cut shares of Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Finally, William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.68.

Marvell Technology Stock Down 19.8 %

Shares of NASDAQ:MRVL opened at $72.28 on Thursday. The firm’s 50 day moving average price is $110.00 and its 200 day moving average price is $93.82. The stock has a market cap of $62.54 billion, a price-to-earnings ratio of -42.52, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insider Activity at Marvell Technology

In related news, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the transaction, the executive vice president now directly owns 24,706 shares in the company, valued at $2,791,778. This trade represents a 9.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the transaction, the executive vice president now owns 97,244 shares in the company, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock worth $4,330,980 in the last three months. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Castle Rock Wealth Management LLC lifted its holdings in Marvell Technology by 165.8% in the fourth quarter. Castle Rock Wealth Management LLC now owns 16,283 shares of the semiconductor company’s stock valued at $1,734,000 after acquiring an additional 10,157 shares during the period. Total Wealth Planning & Management Inc. acquired a new stake in Marvell Technology in the fourth quarter valued at $824,000. Menard Financial Group LLC acquired a new stake in Marvell Technology in the fourth quarter valued at $669,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Marvell Technology in the fourth quarter valued at $105,450,000. Finally, Chelsea Counsel Co. acquired a new stake in Marvell Technology in the fourth quarter valued at $44,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Company Profile

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.