Craig Hallum Issues Positive Forecast for Marvell Technology (NASDAQ:MRVL) Stock Price

Marvell Technology (NASDAQ:MRVL - Free Report) had its price objective raised by Craig Hallum from $132.00 to $149.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a buy rating on the semiconductor company's stock.

MRVL has been the topic of a number of other research reports. Stifel Nicolaus increased their price target on Marvell Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Monday. Barclays increased their price target on shares of Marvell Technology from $85.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Needham & Company LLC upped their target price on Marvell Technology from $95.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. TD Cowen increased their target price on Marvell Technology from $90.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upped their price objective on Marvell Technology from $90.00 to $130.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $120.64.

Marvell Technology Stock Performance

Shares of MRVL traded up $0.83 during midday trading on Monday, reaching $119.01. The stock had a trading volume of 15,246,710 shares, compared to its average volume of 12,033,658. The firm has a market cap of $102.98 billion, a PE ratio of -70.01, a P/E/G ratio of 4.03 and a beta of 1.41. The firm has a 50 day simple moving average of $101.24 and a 200-day simple moving average of $81.64. Marvell Technology has a one year low of $53.19 and a one year high of $126.15. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology's dividend payout ratio (DPR) is -14.12%.

Insider Activity

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares of the company's stock, valued at approximately $2,791,778. This represents a 9.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the transaction, the executive vice president now owns 109,244 shares of the company's stock, valued at approximately $8,823,637.88. The trade was a 5.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 175,000 shares of company stock valued at $14,550,170. 0.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marvell Technology

Several large investors have recently modified their holdings of MRVL. True Wealth Design LLC grew its holdings in Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 326 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Marvell Technology in the second quarter valued at approximately $32,000. Quarry LP bought a new position in shares of Marvell Technology during the 2nd quarter worth approximately $32,000. Whittier Trust Co. grew its position in shares of Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company's stock worth $35,000 after buying an additional 210 shares during the period. Finally, Goodman Advisory Group LLC bought a new stake in shares of Marvell Technology in the 3rd quarter valued at $37,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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.