Marvell Technology (NASDAQ:MRVL) Trading 6.1% Higher After Analyst Upgrade

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) traded up 6.1% during trading on Monday after Barclays raised their price target on the stock from $115.00 to $150.00. Barclays currently has an overweight rating on the stock. Marvell Technology traded as high as $125.37 and last traded at $124.76. 14,849,059 shares traded hands during trading, an increase of 14% from the average session volume of 13,008,617 shares. The stock had previously closed at $117.58.

Several other analysts have also recently commented on the stock. Loop Capital raised their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Needham & Company LLC raised their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. raised their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Craig Hallum raised their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, The Goldman Sachs Group raised their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $124.96.

Insider Transactions at Marvell Technology

In other news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the transaction, the executive vice president now owns 24,706 shares in the company, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the sale, the executive vice president now directly owns 103,244 shares in the company, valued at approximately $9,203,170.16. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,755 shares of company stock worth $3,615,030. 0.33% of the stock is currently owned by company insiders.

Institutional Trading of Marvell Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRVL. True Wealth Design LLC increased its stake 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 period. ORG Partners LLC increased its stake in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in Marvell Technology in the second quarter valued at about $32,000. Quarry LP bought a new stake in Marvell Technology in the second quarter valued at about $32,000. Finally, Kieckhefer Group LLC bought a new stake in Marvell Technology in the fourth quarter valued at about $33,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Price Performance

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 stock has a market capitalization of $107.95 billion, a P/E ratio of -73.39, a PEG ratio of 3.76 and a beta of 1.41. The company’s 50 day simple moving average is $106.70 and its two-hundred day simple moving average is $84.64.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be issued a $0.06 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.19%. Marvell Technology’s dividend 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.