By otakuyassine3@gmail.com 
Shares of Marvell Technology, Inc. (NASDAQ:MRVL – Get Free Report) shot up 0.3% on Monday . The stock traded as high as $113.39 and last traded at $113.15. 3,625,485 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 12,820,441 shares. The stock had previously closed at $112.86.
Analyst Ratings Changes
A number of equities analysts have commented on MRVL shares. JPMorgan Chase & Co. upped their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Citigroup raised their price objective on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Bank of America increased their target price on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Stifel Nicolaus lifted their price target on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Piper Sandler reissued an “overweight” rating and issued a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $127.60.
Read Our Latest Report on MRVL
Marvell Technology Stock Performance
The stock’s 50-day moving average price is $112.48 and its 200-day moving average price is $88.27. 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 company has a market capitalization of $100.77 billion, a P/E ratio of -68.51, a P/E/G ratio of 3.71 and a beta of 1.40.
Marvell Technology Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Marvell Technology’s dividend payout ratio is currently -14.12%.
Insider Activity
In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares in the company, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Marvell Technology
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC grew its holdings in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares during the period. ORG Partners LLC raised its holdings in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in Marvell Technology during the fourth quarter worth approximately $26,000. Kieckhefer Group LLC acquired a new position in Marvell Technology in the fourth quarter worth approximately $33,000. Finally, Financial Life Planners bought a new position in shares of Marvell Technology in the fourth quarter valued at $33,000. 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.
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