Marvell Technology (NASDAQ:MRVL) Price Target Raised to $149.00 at Craig Hallum

Marvell Technology (NASDAQ:MRVL) had its price objective hoisted by Craig Hallum from $132.00 to $149.00 in a research note released on Monday,Benzinga reports. Craig Hallum currently has a buy rating on the semiconductor company’s stock.

MRVL has been the topic of several other research reports. Bank of America increased 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. Benchmark restated a “buy” rating and set a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. KeyCorp upped their target price on Marvell Technology from $95.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Evercore ISI lifted their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Finally, Wells Fargo & Company increased their price target on Marvell Technology from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $120.64.

Marvell Technology Stock Up 0.7 %

Shares of NASDAQ MRVL opened at $119.01 on Monday. Marvell Technology has a 12-month low of $53.19 and a 12-month high of $126.15. 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 firm’s 50-day moving average price is $101.24 and its 200-day moving average price is $81.64. The stock has a market capitalization of $102.98 billion, a price-to-earnings ratio of -70.01, a P/E/G ratio of 4.03 and a beta of 1.41.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.20%. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $120,750.00. Following the transaction, the chief financial officer now directly owns 110,253 shares of the company’s stock, valued at $8,875,366.50. This trade represents a 1.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew J. Murphy acquired 13,000 shares of Marvell Technology stock in a transaction that occurred on Monday, October 14th. The shares were bought at an average price of $77.63 per share, for a total transaction of $1,009,190.00. Following the transaction, the chief executive officer now owns 221,915 shares of the company’s stock, valued at $17,227,261.45. This represents a 6.22 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 175,000 shares of company stock worth $14,550,170 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

A number of hedge funds have recently modified their holdings of the company. True Wealth Design LLC lifted its holdings in Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Marvell Technology in the 2nd quarter valued at about $32,000. Quarry LP purchased a new stake in Marvell Technology during the 2nd quarter worth approximately $32,000. Whittier Trust Co. raised its stake in shares of 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 acquiring an additional 210 shares in the last quarter. Finally, Goodman Advisory Group LLC acquired a new stake in Marvell Technology in the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors 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.