Marvell Technology, Inc. (NASDAQ:MRVL) Receives Consensus Rating of “Buy” from Brokerages

Marvell Technology, Inc. (NASDAQ:MRVL) has earned a consensus rating of “Buy” from the twenty-eight analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, twenty-four have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $127.60.

Several equities research analysts have recently commented on MRVL shares. Piper Sandler reiterated an “overweight” rating and set a $120.00 price target (up previously from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Oppenheimer lifted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Morgan Stanley reiterated an “equal weight” rating on shares of Marvell Technology in a research report on Friday, February 14th. Bank of America lifted their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Evercore ISI lifted their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd.

Insiders Place Their Bets

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the transaction, the chief operating officer now owns 87,931 shares in the company, valued at approximately $9,351,461.85. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,255 shares of company stock worth $4,330,980. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Large investors have recently bought and sold shares of the stock. Swedbank AB increased its position in shares of Marvell Technology by 1.0% during the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after purchasing an additional 23,680 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Marvell Technology by 7,142.2% in the 3rd quarter. International Assets Investment Management LLC now owns 239,934 shares of the semiconductor company’s stock worth $17,304,000 after acquiring an additional 236,621 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Marvell Technology by 7.1% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 12,377 shares of the semiconductor company’s stock worth $893,000 after acquiring an additional 816 shares during the last quarter. Dakota Wealth Management increased its holdings in Marvell Technology by 2.8% in the 3rd quarter. Dakota Wealth Management now owns 12,646 shares of the semiconductor company’s stock worth $912,000 after acquiring an additional 343 shares during the last quarter. Finally, Forsta AP Fonden increased its holdings in Marvell Technology by 12.5% in the 3rd quarter. Forsta AP Fonden now owns 180,800 shares of the semiconductor company’s stock worth $13,039,000 after acquiring an additional 20,100 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Trading Up 4.8 %

MRVL opened at $91.82 on Monday. Marvell Technology has a 1-year low of $53.19 and a 1-year high of $127.48. The firm has a 50-day moving average price of $112.03 and a two-hundred day moving average price of $92.96. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $79.45 billion, a PE ratio of -54.01, a PEG ratio of 1.61 and a beta of 1.40.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

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.