Marvell Technology, Inc. (NASDAQ:MRVL) Given Consensus Rating of “Buy” by Analysts

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) have earned a consensus rating of “Buy” from the twenty-eight analysts that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $120.44.

Several research firms recently commented on MRVL. Melius Research upgraded Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Piper Sandler dropped their price target on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Bank of America decreased their price objective on Marvell Technology from $150.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, March 6th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Finally, Barclays reduced their target price on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th.

Insider Transactions at Marvell Technology

In other news, EVP Mark Casper sold 2,500 shares of the company’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 directly owns 24,706 shares in the company, valued at approximately $2,791,778. This represents a 9.19 % decrease in their position. The transaction 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 firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the transaction, the chief financial officer now directly owns 113,592 shares in the company, valued at approximately $7,818,537.36. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,685 shares of company stock valued at $4,026,768 in the last quarter. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

A number of institutional investors have recently made changes to their positions in MRVL. Zweig DiMenna Associates LLC boosted its position in Marvell Technology by 6.3% during the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after buying an additional 12,700 shares during the period. Berbice Capital Management LLC bought a new stake in shares of Marvell Technology in the 4th quarter valued at about $637,000. RFG Advisory LLC boosted its holdings in Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after acquiring an additional 2,507 shares during the period. Charles Schwab Investment Management Inc. grew its position in Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after acquiring an additional 66,654 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in Marvell Technology by 23.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after purchasing an additional 535,203 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Down 1.5 %

MRVL opened at $71.67 on Friday. Marvell Technology has a twelve month low of $53.19 and a twelve month high of $127.48. The company’s 50-day moving average price is $97.34 and its two-hundred day moving average price is $93.91. The stock has a market cap of $62.07 billion, a price-to-earnings ratio of -42.16, a PEG ratio of 1.61 and a beta of 1.42. 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 business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.33%. Marvell Technology’s payout ratio is presently -23.53%.

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.