Marvell Technology (NASDAQ:MRVL) Stock Price Up 0.3% – What’s Next?

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) rose 0.3% on Monday . The stock traded as high as $113.39 and last traded at $113.15. Approximately 3,625,485 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 12,820,441 shares. The stock had previously closed at $112.86.

Analyst Ratings Changes

MRVL has been the subject of several recent research reports. KeyCorp raised their price objective on Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Morgan Stanley lowered their price target on shares of Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. B. Riley upped their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Stifel Nicolaus lifted their target price on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Oppenheimer upped their price target on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Price Performance

The firm’s 50-day moving average is $111.72 and its 200-day moving average is $87.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company has a market capitalization of $98.26 billion, a P/E ratio of -66.80, a price-to-earnings-growth ratio of 3.71 and a beta of 1.40.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. Marvell Technology’s payout ratio is currently -14.12%.

Insider Activity at Marvell Technology

In other news, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the sale, the executive vice president now directly owns 93,931 shares in the company, valued at $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marvell Technology

A number of institutional investors and hedge funds have recently modified their holdings of MRVL. Zweig DiMenna Associates LLC lifted its stake in Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after purchasing an additional 12,700 shares during the last quarter. Berbice Capital Management LLC bought a new stake in shares of Marvell Technology during the fourth quarter worth $637,000. RFG Advisory LLC boosted its stake in shares of Marvell Technology by 6.2% during the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after purchasing an additional 2,507 shares during the period. Braun Stacey Associates Inc. bought a new position in shares of Marvell Technology in the third quarter worth about $16,435,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Marvell Technology by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after buying an additional 66,654 shares during the period. 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.