Marvell Technology (NASDAQ:MRVL – Get Rating) had its target price raised by Stifel Nicolaus from $56.00 to $65.00 in a research report released on Friday, The Fly reports.
A number of other equities research analysts have also recently issued reports on the stock. Susquehanna restated a positive rating and set a $50.00 price target on shares of Marvell Technology in a report on Thursday, March 9th. Piper Sandler decreased their price target on shares of Marvell Technology from $55.00 to $50.00 and set an overweight rating for the company in a report on Friday, March 3rd. Bank of America upped their price target on shares of Marvell Technology from $51.00 to $70.00 in a report on Friday. Needham & Company LLC reiterated a buy rating and issued a $50.00 target price on shares of Marvell Technology in a research note on Friday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Marvell Technology from $50.00 to $65.00 in a research note on Friday. Three investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $62.85.
Marvell Technology Price Performance
Shares of NASDAQ:MRVL opened at $65.51 on Friday. Marvell Technology has a 1 year low of $33.75 and a 1 year high of $65.75. The firm has a fifty day moving average price of $41.68 and a 200 day moving average price of $41.70. The company has a current ratio of 1.37, a quick ratio of 0.93 and a debt-to-equity ratio of 0.25.
Marvell Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 26th. Stockholders of record on Friday, April 7th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend was Wednesday, April 5th. Marvell Technology’s payout ratio is -126.32%.
Insider Activity
In other news, EVP Dean E. Jr. Jarnac sold 12,000 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $60.05, for a total transaction of $720,600.00. Following the sale, the executive vice president now directly owns 879 shares of the company’s stock, valued at $52,783.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Marvell Technology news, EVP Dean E. Jr. Jarnac sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $60.05, for a total value of $720,600.00. Following the transaction, the executive vice president now directly owns 879 shares of the company’s stock, valued at $52,783.95. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Dean E. Jr. Jarnac sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $45.00, for a total transaction of $270,000.00. Following the completion of the transaction, the executive vice president now directly owns 12,879 shares in the company, valued at $579,555. The disclosure for this sale can be found here. 0.45% of the stock is owned by insiders.
Hedge Funds Weigh In On Marvell Technology
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Guardian Wealth Advisors LLC bought a new position in shares of Marvell Technology during the third quarter worth $26,000. Barrett & Company Inc. bought a new position in shares of Marvell Technology during the first quarter worth $26,000. MADDEN SECURITIES Corp bought a new position in shares of Marvell Technology during the fourth quarter worth $27,000. Resurgent Financial Advisors LLC bought a new position in shares of Marvell Technology during the fourth quarter worth $28,000. Finally, Trifecta Capital Advisors LLC bought a new position in shares of Marvell Technology during the fourth quarter worth $32,000. 81.28% of the stock is owned by institutional investors.
About Marvell Technology
Marvell Technology, Inc engages in the provision of data infrastructure semiconductor solutions. It offers compute, networking, storage, and custom solutions. The firm designs, develops, and sells integrated circuits. The company was founded by Wei Li Dai, Pantas Sutardja, and Sehat Sutardja in 1995 and is headquartered in Wilmington, DE.
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