Marvell Technology (NASDAQ:MRVL) Price Target Raised to $140.00

Marvell Technology (NASDAQ:MRVL) had its price target boosted by Wells Fargo & Company from $130.00 to $140.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the semiconductor company’s stock.

MRVL has been the subject of a number of other reports. The Goldman Sachs Group increased their price target on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Needham & Company LLC increased their price objective on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Cantor Fitzgerald boosted their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. TD Cowen upped their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, KeyCorp lifted their price objective on shares of Marvell Technology from $95.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $121.68.

Marvell Technology Price Performance

Shares of MRVL stock opened at $116.00 on Monday. Marvell Technology has a 12-month low of $53.19 and a 12-month high of $126.15. The business’s fifty day simple moving average is $105.61 and its 200-day simple moving average is $83.85. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid a dividend of $0.06 per share. 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 is currently -14.12%.

Insider Activity at Marvell Technology

In related news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 directly owns 24,706 shares in the company, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the transaction, the executive vice president now owns 109,244 shares in the company, valued at $8,823,637.88. The trade was a 5.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,500 shares of company stock valued at $2,967,670. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marvell Technology

A number of large investors have recently modified their holdings of MRVL. ORG Partners LLC grew its position in shares of Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Kieckhefer Group LLC acquired a new position in Marvell Technology during the fourth quarter worth $33,000. True Wealth Design LLC grew its holdings in Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 326 shares in the last quarter. Quarry LP acquired a new stake in shares of Marvell Technology in the 2nd quarter worth $32,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Marvell Technology during the 2nd quarter worth $32,000. Hedge funds and other institutional investors 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.