Marvell Technology (NASDAQ:MRVL) Price Target Raised to $130.00

Marvell Technology (NASDAQ:MRVL) had its price target upped by JPMorgan Chase & Co. from $90.00 to $130.00 in a research note published on Wednesday, Marketbeat reports. They currently have an overweight rating on the semiconductor company’s stock.

A number of other research analysts have also recently commented on the company. Citigroup restated a “buy” rating and set a $91.00 price objective on shares of Marvell Technology in a research note on Monday, October 14th. Oppenheimer boosted their price target on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday. B. Riley increased their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI boosted their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Finally, Cantor Fitzgerald raised their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday. Three equities 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $119.04.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $113.51 on Wednesday. The firm’s fifty day simple moving average is $86.09 and its 200 day simple moving average is $75.57. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. Marvell Technology has a twelve month low of $50.56 and a twelve month high of $119.88. The firm has a market capitalization of $100.59 billion, a price-to-earnings ratio of -66.77, a PEG ratio of 4.15 and a beta of 1.46.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the transaction, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. The trade was a 5.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ford Tamer sold 92,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the completion of the sale, the director now owns 351,193 shares in the company, valued at $26,044,472.88. The trade was a 20.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 267,000 shares of company stock valued at $20,899,260. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. True Wealth Design LLC raised its stake in shares of Marvell Technology by 1,481.8% during the third 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 in the last quarter. Quarry LP acquired a new position in Marvell Technology during the 2nd quarter valued at about $32,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Marvell Technology during the 2nd quarter worth about $32,000. Whittier Trust Co. lifted its stake in shares of Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 210 shares during the period. Finally, Goodman Advisory Group LLC bought a new position in shares of Marvell Technology in the third quarter valued at approximately $37,000. Institutional investors and hedge funds 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.