Marvell Technology (NASDAQ:MRVL) Upgraded at StockNews.com

StockNews.com upgraded shares of Marvell Technology (NASDAQ:MRVL) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

A number of other brokerages also recently commented on MRVL. Citigroup raised their price objective on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. KeyCorp increased their target price on Marvell Technology from $95.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Oppenheimer boosted their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group increased their target price on Marvell Technology from $87.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Cantor Fitzgerald upped their price objective on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.28.

Marvell Technology Trading Down 3.3 %

MRVL opened at $114.32 on Thursday. The firm has a market cap of $98.92 billion, a price-to-earnings ratio of -67.25, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. The business’s 50 day moving average is $103.93 and its two-hundred day moving average is $82.88. 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 52 week low of $53.19 and a 52 week high of $126.15.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insiders Place Their Bets

In related news, CEO Matthew J. Murphy acquired 13,000 shares of the stock in a transaction on Monday, October 14th. The stock was acquired at an average price of $77.63 per share, for a total transaction of $1,009,190.00. Following the completion of the purchase, the chief executive officer now owns 221,915 shares of the company’s stock, valued at $17,227,261.45. This represents a 6.22 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael G. Strachan sold 5,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $122.65, for a total value of $613,250.00. Following the sale, the director now owns 30,959 shares in the company, valued at approximately $3,797,121.35. This represents a 13.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 180,000 shares of company stock valued at $15,163,420 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citizens Financial Group Inc. RI raised its position in Marvell Technology by 1.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after purchasing an additional 116 shares during the period. Crumly & Associates Inc. grew its position in shares of Marvell Technology by 1.5% in the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock worth $593,000 after buying an additional 121 shares during the last quarter. United Capital Management of KS Inc. lifted its position in Marvell Technology by 0.4% during the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after acquiring an additional 131 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in Marvell Technology by 1.4% in the third quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock valued at $716,000 after acquiring an additional 139 shares in the last quarter. Finally, ASB Consultores LLC grew its holdings in Marvell Technology by 3.8% in the third quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock worth $276,000 after purchasing an additional 140 shares during the last quarter. 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.