Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) shares rose 4.9% during trading on Thursday . The company traded as high as $61.58 and last traded at $61.22. Approximately 4,514,972 shares traded hands during trading, a decline of 67% from the average daily volume of 13,623,297 shares. The stock had previously closed at $58.37.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on MRVL. TD Cowen cut their price objective on Marvell Technology from $125.00 to $95.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Melius Research raised Marvell Technology to a "strong-buy" rating in a research report on Monday, January 27th. Rosenblatt Securities reiterated a "buy" rating and set a $140.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Raymond James set a $110.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Finally, Craig Hallum boosted their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $114.56.
View Our Latest Analysis on MRVL
Marvell Technology Trading Down 2.0 %
The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm has a market capitalization of $52.58 billion, a P/E ratio of -35.62, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. The firm has a 50 day moving average price of $63.56 and a two-hundred day moving average price of $90.05.
Marvell Technology Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.40%. Marvell Technology's dividend payout ratio is presently -23.53%.
Insider Transactions at Marvell Technology
In other news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the completion of the sale, the chief operating officer now owns 87,931 shares in the company, valued at $9,351,461.85. The trade was a 6.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $60.00, for a total transaction of $90,000.00. Following the completion of the sale, the chief financial officer now owns 124,348 shares in the company, valued at $7,460,880. This represents a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,890 shares of company stock worth $2,027,938 over the last three months. 0.33% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Zweig DiMenna Associates LLC grew its stake in shares of Marvell Technology by 6.3% during the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock worth $23,583,000 after buying an additional 12,700 shares during the last quarter. Berbice Capital Management LLC bought a new stake in Marvell Technology during the 4th quarter valued at $637,000. RFG Advisory LLC lifted its position in Marvell Technology by 6.2% in the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock valued at $4,708,000 after acquiring an additional 2,507 shares in the last quarter. United Asset Strategies Inc. grew its holdings in Marvell Technology by 7.1% during the fourth quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company's stock worth $24,287,000 after buying an additional 14,547 shares in the last quarter. Finally, Prudent Investors Network Inc. purchased a new stake in shares of Marvell Technology during the fourth quarter valued at approximately $248,000. Institutional investors and hedge funds own 83.51% of the company's stock.
About Marvell Technology
(
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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.
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