By otakuyassine3@gmail.com 
Marvell Technology, Inc. (NASDAQ:MRVL – Get Free Report)’s share price was up 2.6% during mid-day trading on Friday after Morgan Stanley raised their price target on the stock from $102.00 to $120.00. Morgan Stanley currently has an equal weight rating on the stock. Marvell Technology traded as high as $112.48 and last traded at $111.94. Approximately 4,795,960 shares were traded during trading, a decline of 62% from the average daily volume of 12,625,783 shares. The stock had previously closed at $109.11.
A number of other research analysts have also recently weighed in on MRVL. Craig Hallum lifted their target price on Marvell Technology from $88.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. TD Cowen boosted their target price on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Monday, December 2nd. Oppenheimer boosted their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Bank of America raised their target price on shares of Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $119.76.
Get Our Latest Research Report on Marvell Technology
Insiders Place Their Bets
In related news, EVP Mark Casper sold 2,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total transaction of $177,075.00. Following the sale, the executive vice president now owns 22,494 shares of the company’s stock, valued at approximately $1,593,250.02. This represents a 10.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew J. Murphy bought 13,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was purchased at an average price of $77.63 per share, with a total value of $1,009,190.00. Following the transaction, the chief executive officer now directly owns 221,915 shares in the company, valued at $17,227,261.45. The trade was a 6.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 175,000 shares of company stock valued at $14,444,745. 0.33% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC boosted its stake in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Marvell Technology during the 2nd quarter worth about $32,000. Quarry LP acquired a new position in shares of Marvell Technology in the 2nd quarter valued at $32,000. Whittier Trust Co. increased its stake in Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares during the period. Finally, Goodman Advisory Group LLC acquired a new position in shares of Marvell Technology in the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.
Marvell Technology Trading Up 1.8 %
The business’s 50 day moving average price is $93.17 and its 200-day moving average price is $77.87. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The firm has a market capitalization of $96.14 billion, a price-to-earnings ratio of -65.36, a price-to-earnings-growth ratio of 4.03 and a beta of 1.46.
Marvell Technology Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is presently -14.12%.
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.
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