Marvell Technology, Inc. (NASDAQ:MRVL) Director Buys $207,000.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL) Director Brad W. Buss acquired 3,000 shares of Marvell Technology stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $69.00 per share, with a total value of $207,000.00. Following the completion of the purchase, the director now directly owns 87,113 shares of the company’s stock, valued at $6,010,797. The trade was a 3.57 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Marvell Technology Trading Down 2.0 %

MRVL opened at $70.84 on Monday. 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 stock has a market capitalization of $61.30 billion, a PE ratio of -41.67, a PEG ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The firm has a 50-day moving average price of $108.27 and a two-hundred day moving average price of $94.00.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.34%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is presently -23.53%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MRVL shares. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Citigroup reduced their price objective on shares of Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday. 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. Evercore ISI boosted their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $140.00 price objective on shares of Marvell Technology in a research note on Thursday. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and an average target price of $121.68.

Institutional Investors Weigh In On Marvell Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Castle Rock Wealth Management LLC boosted its stake in shares of Marvell Technology by 165.8% in the 4th quarter. Castle Rock Wealth Management LLC now owns 16,283 shares of the semiconductor company’s stock valued at $1,734,000 after purchasing an additional 10,157 shares during the last quarter. Total Wealth Planning & Management Inc. bought a new position in shares of Marvell Technology in the 4th quarter valued at about $824,000. Menard Financial Group LLC bought a new position in shares of Marvell Technology in the 4th quarter valued at about $669,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Marvell Technology in the 4th quarter valued at about $105,450,000. Finally, Chelsea Counsel Co. bought a new position in shares of Marvell Technology in the 4th quarter valued at about $44,000. Institutional investors and hedge funds 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.