Marvell Technology (NASDAQ:MRVL) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Marvell Technology (NASDAQ:MRVL) had its target price boosted by Needham & Company LLC from $95.00 to $120.00 in a report released on Wednesday morning, MarketBeat Ratings reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

Other research analysts have also recently issued research reports about the company. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research report on Monday. Barclays upped their target price on Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Roth Mkm reiterated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Evercore ISI upped their target price on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Susquehanna upped their target price on Marvell Technology from $95.00 to $110.00 and gave the company a “positive” rating in a research report on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $117.92.

Marvell Technology Stock Up 23.2 %

MRVL stock opened at $118.15 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The stock has a market capitalization of $104.70 billion, a price-to-earnings ratio of -106.44, a PEG ratio of 4.19 and a beta of 1.46. The business’s fifty day moving average price is $84.44 and its two-hundred day moving average price is $75.04. Marvell Technology has a fifty-two week low of $50.35 and a fifty-two week high of $119.88.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology’s dividend payout ratio is presently -21.62%.

Insiders Place Their Bets

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Friday, November 15th. The shares were 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 owns 114,211 shares of the company’s stock, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ford Tamer sold 92,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the sale, the director now directly owns 351,193 shares in the company, valued at $26,044,472.88. This trade represents a 20.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 267,000 shares of company stock worth $20,899,260. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Marvell Technology

A number of institutional investors have recently bought and sold shares of MRVL. Ameriprise Financial Inc. boosted its position in Marvell Technology by 24.1% during the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after acquiring an additional 2,254,610 shares during the last quarter. Swedbank AB increased its stake in Marvell Technology by 653.5% in the second quarter. Swedbank AB now owns 2,334,015 shares of the semiconductor company’s stock valued at $163,148,000 after purchasing an additional 2,024,269 shares in the last quarter. Temasek Holdings Private Ltd increased its stake in Marvell Technology by 581.8% in the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after purchasing an additional 1,911,532 shares in the last quarter. Holocene Advisors LP bought a new stake in Marvell Technology in the third quarter valued at $120,116,000. Finally, Van ECK Associates Corp increased its stake in Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after purchasing an additional 1,570,050 shares in the last quarter. Institutional investors 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.