Marvell Technology (NASDAQ:MRVL) Research Coverage Started at Melius

Melius initiated coverage on shares of Marvell Technology (NASDAQ:MRVL) in a report published on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $188.00 target price on the semiconductor company’s stock.

Several other research firms have also weighed in on MRVL. TD Cowen boosted their price target on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Bank of America boosted their target price on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. UBS Group lifted their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Citigroup upped their target price on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Barclays lifted their price target on Marvell Technology from $115.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $106.79 on Monday. 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 business has a 50-day moving average of $110.97 and a 200-day moving average of $86.99. The stock has a market capitalization of $92.41 billion, a price-to-earnings ratio of -62.82, a PEG ratio of 4.12 and a beta of 1.41. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two week high of $127.48.

Marvell Technology Announces Dividend

The company 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 dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the transaction, the executive vice president now owns 103,244 shares in the company, valued at $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the transaction, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock worth $4,361,430 over the last three months. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in shares of Marvell Technology by 0.3% during the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after buying an additional 68,893 shares in the last quarter. Geode Capital Management LLC increased its holdings in Marvell Technology by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock worth $818,916,000 after purchasing an additional 219,692 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Marvell Technology by 4.3% during the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after purchasing an additional 359,005 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Marvell Technology by 26.6% during the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after purchasing an additional 1,570,050 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Marvell Technology by 3.0% in the second quarter. Clearbridge Investments LLC now owns 5,189,682 shares of the semiconductor company’s stock valued at $362,759,000 after buying an additional 150,109 shares during the period. 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.