Marvell Technology (NASDAQ:MRVL) Stock Price Up 0.2% – Here’s What Happened

Marvell Technology, Inc. (NASDAQ:MRVL) shares rose 0.2% on Friday . The company traded as high as $127.20 and last traded at $126.26. Approximately 2,164,135 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 10,298,308 shares. The stock had previously closed at $126.06.

Analysts Set New Price Targets

MRVL has been the topic of a number of research analyst reports. B. Riley raised their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Rosenblatt Securities raised their price target on shares of Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Stifel Nicolaus raised their price target on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Evercore ISI raised their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Finally, The Goldman Sachs Group lifted their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $125.38.

Marvell Technology Stock Down 0.4 %

The firm’s 50 day moving average price is $108.68 and its two-hundred day moving average price is $85.65. The company has a market cap of $108.64 billion, a P/E ratio of -73.80, a price-to-earnings-growth ratio of 4.12 and a beta of 1.41. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.19%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is currently -14.12%.

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the sale, the executive vice president now owns 103,244 shares in the company, valued at $9,203,170.16. This represents a 5.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is owned by company insiders.

Institutional Trading of Marvell Technology

Several institutional investors have recently made changes to their positions in the company. Waldron Private Wealth LLC grew its position in Marvell Technology by 3.6% during the fourth quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock valued at $327,000 after buying an additional 103 shares during the period. Tsfg LLC grew its position in Marvell Technology by 7.5% during the fourth quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock valued at $176,000 after buying an additional 111 shares during the period. Citizens Financial Group Inc. RI grew its position in Marvell Technology by 1.5% during the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock valued at $566,000 after buying an additional 116 shares during the period. Patton Albertson Miller Group LLC grew its position in Marvell Technology by 1.6% during the fourth quarter. Patton Albertson Miller Group LLC now owns 7,500 shares of the semiconductor company’s stock valued at $828,000 after buying an additional 120 shares during the period. Finally, Crumly & Associates Inc. grew its position in Marvell Technology by 1.5% during the third quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock valued at $593,000 after buying an additional 121 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.