Marvell Technology (NASDAQ:MRVL) Stock Price Up 0.2% – Here’s What Happened

Marvell Technology, Inc. (NASDAQ:MRVL) was up 0.2% during trading on Friday . The stock traded as high as $127.20 and last traded at $126.26. Approximately 2,164,135 shares changed hands during trading, a decline of 79% from the average daily volume of 10,298,308 shares. The stock had previously closed at $126.06.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MRVL shares. Citigroup upped their price objective 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. KeyCorp upped their price objective on shares of Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday. Needham & Company LLC upped their price objective on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Oppenheimer increased their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $125.38.

Marvell Technology Price Performance

The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock has a market cap of $108.64 billion, a P/E ratio of -73.80, a PEG ratio of 4.12 and a beta of 1.41. The firm’s fifty day moving average price is $108.68 and its 200-day moving average price is $85.65.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s dividend payout ratio is -14.12%.

Insider Transactions at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the sale, the executive vice president now owns 103,244 shares in the company, valued at $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares in the company, valued at approximately $2,791,778. This trade represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,755 shares of company stock worth $4,361,430. Insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Several large investors have recently added to or reduced their stakes in the stock. ORG Partners LLC lifted its position in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares during the period. Kieckhefer Group LLC bought a new stake in Marvell Technology in the 4th quarter worth about $33,000. True Wealth Design LLC grew its stake in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the period. Quarry LP bought a new stake in shares of Marvell Technology during the 2nd quarter valued at about $32,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Marvell Technology during the 2nd quarter valued at about $32,000. Institutional investors 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.