Marvell Technology, Inc. (NASDAQ:MRVL) Receives Average Rating of "Buy" from Brokerages

Shares of Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) have earned an average recommendation of "Buy" from the twenty-eight brokerages that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, twenty-four have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $116.41.

Several equities research analysts recently weighed in on the company. Barclays reduced their price target on Marvell Technology from $150.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Summit Insights cut shares of Marvell Technology from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Raymond James set a $110.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Benchmark reaffirmed a "buy" rating and set a $135.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Finally, Melius Research raised Marvell Technology to a "strong-buy" rating in a research note on Monday, January 27th.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the business's stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the sale, the executive vice president now owns 93,931 shares in the company, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $103,245.00. Following the completion of the transaction, the chief financial officer now directly owns 113,592 shares of the company's stock, valued at $7,818,537.36. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,930 shares of company stock valued at $1,999,038. 0.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. M&T Bank Corp raised its stake in Marvell Technology by 0.5% in the 3rd quarter. M&T Bank Corp now owns 87,005 shares of the semiconductor company's stock worth $6,275,000 after acquiring an additional 448 shares during the last quarter. Pine Valley Investments Ltd Liability Co lifted its holdings in shares of Marvell Technology by 8.0% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 23,799 shares of the semiconductor company's stock worth $1,716,000 after purchasing an additional 1,773 shares during the period. Sanctuary Advisors LLC boosted its position in Marvell Technology by 42.5% in the third quarter. Sanctuary Advisors LLC now owns 75,027 shares of the semiconductor company's stock valued at $5,411,000 after buying an additional 22,382 shares during the last quarter. World Investment Advisors LLC lifted its stake in Marvell Technology by 1.4% during the 3rd quarter. World Investment Advisors LLC now owns 40,366 shares of the semiconductor company's stock valued at $2,911,000 after acquiring an additional 560 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Marvell Technology in the third quarter worth $3,432,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Marvell Technology Trading Down 0.4 %

Shares of NASDAQ:MRVL traded down $0.23 on Tuesday, hitting $51.70. The company had a trading volume of 12,265,764 shares, compared to its average volume of 13,511,546. Marvell Technology has a 1 year low of $47.09 and a 1 year high of $127.48. The firm's 50-day simple moving average is $73.72 and its two-hundred day simple moving average is $91.24. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $44.78 billion, a price-to-earnings ratio of -30.41, a P/E/G ratio of 1.61 and a beta of 1.78.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.46%. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.

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.