Redburn Atlantic Begins Coverage on Marvell Technology (NASDAQ:MRVL)

Redburn Atlantic started coverage on shares of Marvell Technology (NASDAQ:MRVL - Free Report) in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $67.00 target price on the semiconductor company's stock.

MRVL has been the subject of several other reports. Benchmark lowered their price target on shares of Marvell Technology from $135.00 to $95.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Cantor Fitzgerald downgraded shares of Marvell Technology from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $125.00 to $60.00 in a report on Wednesday, May 7th. KeyCorp lowered their price target on shares of Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Bank of America decreased their price objective on Marvell Technology from $120.00 to $72.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $140.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Marvell Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.32.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL traded down $0.86 during trading on Wednesday, hitting $63.73. 38,550,281 shares of the company were exchanged, compared to its average volume of 14,404,490. The business's 50 day moving average is $58.96 and its 200-day moving average is $87.09. The company has a market capitalization of $55.05 billion, a P/E ratio of -37.49, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. 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 1-year low of $47.09 and a 1-year high of $127.48.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.38%. Marvell Technology's dividend payout ratio is presently -23.53%.

Insider Activity

In other news, Director Brad W. Buss bought 3,000 shares of Marvell Technology stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the purchase, the director now directly owns 87,113 shares in the company, valued at approximately $6,010,797. This represents a 3.57% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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. The trade was a 4.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,541 shares of company stock worth $2,079,948 in the last three months. Company insiders own 0.33% of the company's stock.

Hedge Funds Weigh In On Marvell Technology

Large investors have recently added to or reduced their stakes in the business. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology during the 4th quarter worth approximately $26,000. Hughes Financial Services LLC bought a new position in shares of Marvell Technology during the 1st quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new position in shares of Marvell Technology during the 4th quarter worth approximately $27,000. Rossby Financial LCC bought a new position in shares of Marvell Technology during the 1st quarter worth approximately $27,000. Finally, Financial Connections Group Inc. lifted its position in shares of Marvell Technology by 776.0% during the 1st quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company's stock worth $27,000 after buying an additional 388 shares in the last quarter. Institutional investors 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.