Marvell Technology, Inc. (NASDAQ:MRVL) Receives $110.30 Consensus Price Target from Analysts

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twenty-eight brokerages that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, twenty-three have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $110.30.

Several equities analysts recently commented on the company. Wells Fargo & Company reissued an "overweight" rating on shares of Marvell Technology in a report on Thursday, March 6th. Citigroup cut their target price on Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Benchmark lowered their price target on Marvell Technology from $135.00 to $95.00 and set a "buy" rating for the company in a report on Wednesday. Roth Capital set a $100.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Finally, William Blair upgraded shares of Marvell Technology to a "strong-buy" rating in a research report on Wednesday, February 5th.

Marvell Technology Stock Up 3.5 %

NASDAQ:MRVL traded up $2.02 during mid-day trading on Friday, hitting $59.65. The stock had a trading volume of 14,683,638 shares, compared to its average volume of 13,894,077. 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 has a twelve month low of $47.09 and a twelve month high of $127.48. The company has a market capitalization of $51.53 billion, a PE ratio of -35.09, a PEG ratio of 1.61 and a beta of 1.83. The stock has a 50-day simple moving average of $61.19 and a two-hundred day simple moving average of $89.29.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is -23.53%.

Insiders Place Their Bets

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the transaction, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,890 shares of company stock worth $2,027,938. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Marvell Technology

A number of institutional investors have recently made changes to their positions in the stock. ORG Partners LLC boosted its stake in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 149 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in Marvell Technology in the 4th quarter worth approximately $26,000. Hughes Financial Services LLC acquired a new position in Marvell Technology in the 1st quarter valued at $26,000. Rialto Wealth Management LLC purchased a new position in shares of Marvell Technology during the 4th quarter worth $27,000. Finally, Rossby Financial LCC acquired a new stake in shares of Marvell Technology during the first quarter worth $27,000. 83.51% of the stock is 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.