Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) was up 2.4% during mid-day trading on Thursday . The company traded as high as $62.02 and last traded at $61.55. Approximately 5,154,718 shares were traded during trading, a decline of 63% from the average daily volume of 14,099,302 shares. The stock had previously closed at $60.11.
Analyst Ratings Changes
A number of analysts have issued reports on MRVL shares. William Blair raised Marvell Technology to a "strong-buy" rating in a report on Wednesday, February 5th. Benchmark reduced their price objective on Marvell Technology from $135.00 to $95.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Melius downgraded Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 target price for the company. in a research note on Thursday. KeyCorp cut their target price on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Finally, Melius Research upgraded Marvell Technology to a "strong-buy" rating in a report on Monday, January 27th. Five analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Marvell Technology currently has an average rating of "Moderate Buy" and an average price target of $106.00.
Get Our Latest Research Report on Marvell Technology
Marvell Technology Stock Up 3.5%
The stock has a market cap of $53.73 billion, a price-to-earnings ratio of -36.50, a PEG 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. The stock has a fifty day moving average of $59.90 and a two-hundred day moving average of $88.24.
Marvell Technology Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.39%. The ex-dividend date was Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.
Insider Buying and Selling at Marvell Technology
In related news, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $60.00, for a total value of $90,000.00. Following the completion of the transaction, the chief financial officer now owns 124,348 shares of the company's stock, valued at $7,460,880. This trade represents a 1.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,541 shares of company stock valued at $2,079,948 over the last three months. 0.19% of the stock is owned by company insiders.
Hedge Funds Weigh In On Marvell Technology
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Centricity Wealth Management LLC acquired a new position in shares of Marvell Technology during the fourth quarter worth approximately $26,000. Hughes Financial Services LLC bought a new position in shares of Marvell Technology in the first quarter valued at $26,000. Rialto Wealth Management LLC bought a new position in shares of Marvell Technology in the fourth quarter valued at $27,000. Rossby Financial LCC bought a new position in shares of Marvell Technology in the first quarter valued at $27,000. Finally, Financial Connections Group Inc. raised its stake in Marvell Technology by 776.0% during the 1st quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 388 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.
Marvell Technology Company Profile
(
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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.
Further Reading
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