Marvell Technology (NASDAQ:MRVL) Trading Up 4.1% - What's Next?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) rose 4.1% during trading on Friday . The company traded as high as $60.87 and last traded at $60.01. Approximately 6,358,790 shares changed hands during trading, a decline of 54% from the average daily volume of 13,862,474 shares. The stock had previously closed at $57.63.

Analyst Ratings Changes

Several brokerages have weighed in on MRVL. The Goldman Sachs Group upped their target price on Marvell Technology from $115.00 to $131.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. Rosenblatt Securities reaffirmed a "buy" rating and set a $140.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. William Blair upgraded shares of Marvell Technology to a "strong-buy" rating in a report on Wednesday, February 5th. Loop Capital upgraded shares of Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price target for the company in a report on Thursday, March 6th. Finally, Piper Sandler dropped their price objective on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Marvell Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $110.30.

Marvell Technology Price Performance

The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $51.61 billion, a price-to-earnings ratio of -35.15, a PEG ratio of 1.61 and a beta of 1.83. The stock has a fifty day moving average of $61.76 and a two-hundred day moving average of $89.46.

Marvell Technology Announces Dividend

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

Insiders Place Their Bets

In other news, CAO Panteha Dixon sold 1,430 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares of the company's stock, valued at $2,138,125. This represents a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the sale, the chief operating officer now owns 87,931 shares of the company's stock, valued at approximately $9,351,461.85. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,890 shares of company stock valued at $2,027,938 in the last 90 days. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Marvell Technology

A number of institutional investors have recently bought and sold shares of MRVL. Zweig DiMenna Associates LLC lifted its stake in Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock valued at $23,583,000 after buying an additional 12,700 shares during the period. Berbice Capital Management LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $637,000. RFG Advisory LLC grew its holdings in shares of 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 buying an additional 2,507 shares during the period. United Asset Strategies Inc. lifted 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 acquiring an additional 14,547 shares in the last quarter. Finally, Prudent Investors Network Inc. acquired a new position in Marvell Technology in the fourth quarter valued at about $248,000. Institutional investors and hedge funds own 83.51% of the company's stock.

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.

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