Marvell Technology (NASDAQ:MRVL) Price Target Lowered to $80.00 at Barclays

Marvell Technology (NASDAQ:MRVL - Free Report) had its target price trimmed by Barclays from $130.00 to $80.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the semiconductor company's stock.

Several other analysts have also weighed in on the company. KeyCorp lowered their price objective on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Piper Sandler dropped their price target on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. Roth Capital set a $100.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Wells Fargo & Company reissued an "overweight" rating on shares of Marvell Technology in a report on Thursday, March 6th. Finally, The Goldman Sachs Group lifted their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the company a "buy" rating in a report on Friday, January 10th. Three investment 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $114.56.

Marvell Technology Stock Up 2.8 %

Shares of MRVL traded up $1.59 during midday trading on Tuesday, hitting $58.92. The company had a trading volume of 11,919,398 shares, compared to its average volume of 13,626,901. The stock has a market cap of $51.03 billion, a price-to-earnings ratio of -34.66, a PEG ratio of 1.61 and a beta of 1.78. The company's 50 day moving average price is $68.53 and its 200 day moving average price is $90.71. 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 has a 52 week low of $47.09 and a 52 week high of $127.48.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.41%. Marvell Technology's dividend payout ratio is currently -23.53%.

Insider Buying and Selling

In related news, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 87,931 shares in the company, valued at $9,351,461.85. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark Casper sold 12,460 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 27,390 shares of company stock valued at $1,937,938 over the last three months. Company insiders own 0.33% of the company's stock.

Institutional Trading of Marvell Technology

Several institutional investors and hedge funds have recently bought and sold shares of the stock. ORG Partners LLC lifted its holdings 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. Centricity Wealth Management LLC purchased a new stake in shares of Marvell Technology in the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new position in Marvell Technology in the 4th quarter valued at approximately $27,000. Security National Bank acquired a new stake in shares of Marvell Technology during the 1st quarter valued at $31,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Marvell Technology during the 4th quarter valued at $33,000. 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.