By otakuyassine3@gmail.com 
Marvell Technology, Inc. (NASDAQ:MRVL – Get Free Report) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 25,130,000 shares, an increase of 25.1% from the November 30th total of 20,090,000 shares. Based on an average daily trading volume, of 13,090,000 shares, the days-to-cover ratio is presently 1.9 days.
Insider Buying and Selling at Marvell Technology
In other news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total transaction of $177,075.00. Following the completion of the sale, the executive vice president now owns 22,494 shares in the company, valued at $1,593,250.02. The trade was a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Matthew J. Murphy purchased 13,000 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were acquired at an average price of $77.63 per share, with a total value of $1,009,190.00. Following the purchase, the chief executive officer now directly owns 221,915 shares in the company, valued at $17,227,261.45. This represents a 6.22 % increase in their position. The disclosure for this purchase can be found here. Over 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 Trading of Marvell Technology
A number of hedge funds and other institutional investors have recently made changes to their positions in MRVL. True Wealth Design LLC increased its position in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 326 shares during the period. Quarry LP bought a new stake in Marvell Technology during the 2nd quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL purchased a new stake in Marvell Technology in the 2nd quarter worth approximately $32,000. Whittier Trust Co. boosted its holdings in Marvell Technology by 74.5% in the 3rd 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 purchased a new position in shares of Marvell Technology during the 3rd quarter valued at $37,000. 83.51% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the company. The Goldman Sachs Group lifted their price target on Marvell Technology from $87.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Susquehanna lifted their target price on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. B. Riley increased their price target on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on shares of Marvell Technology from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Oppenheimer increased their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.76.
Get Our Latest Report on Marvell Technology
Marvell Technology Stock Performance
MRVL traded down $2.09 on Friday, hitting $113.62. The company’s stock had a trading volume of 6,193,277 shares, compared to its average volume of 12,632,423. Marvell Technology has a 12 month low of $53.19 and a 12 month high of $126.15. The firm has a market cap of $98.32 billion, a P/E ratio of -66.83, a price-to-earnings-growth ratio of 4.03 and a beta of 1.46. 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 company’s 50 day simple moving average is $97.45 and its 200-day simple moving average is $79.86.
Marvell Technology Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is currently -14.12%.
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.
Further Reading
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