Brad W. Buss Purchases 3,000 Shares of Marvell Technology, Inc. (NASDAQ:MRVL) Stock

Marvell Technology, Inc. (NASDAQ:MRVL) Director Brad W. Buss acquired 3,000 shares of the stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the transaction, the director now owns 87,113 shares in the company, valued at $6,010,797. This trade represents a 3.57 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Marvell Technology Trading Down 2.0 %

Shares of Marvell Technology stock opened at $70.84 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The firm has a market capitalization of $61.30 billion, a price-to-earnings ratio of -41.67, a PEG ratio of 1.61 and a beta of 1.42. The firm’s 50 day simple moving average is $108.27 and its two-hundred day simple moving average is $93.84.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is currently -23.53%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Summit Insights cut shares of Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday. William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Needham & Company LLC lowered their price target on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday. Piper Sandler lowered their price target on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Stifel Nicolaus lowered their price target on shares of Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $121.68.

Institutional Trading of Marvell Technology

Several large investors have recently made changes to their positions in the business. State Street Corp boosted its holdings in shares of Marvell Technology by 0.3% in the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after acquiring an additional 68,893 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Marvell Technology by 30.1% in the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock valued at $1,784,649,000 after acquiring an additional 3,737,705 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Marvell Technology by 6.9% in the 4th quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company’s stock valued at $1,462,274,000 after acquiring an additional 857,087 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Marvell Technology by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock valued at $1,374,252,000 after acquiring an additional 3,747,982 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Marvell Technology by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock valued at $1,263,755,000 after acquiring an additional 80,005 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

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.