Marvell Technology, Inc. Receives Favorable Ratings from Analysts

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) have garnered a consensus rating of "Moderate Buy" from the twenty-six brokerages currently providing coverage for the company, according to recent reports. Among the analysts, two have designated the stock with a hold rating, while twenty-four have issued buy ratings. The average price target for the stock over the next twelve months stands at approximately $120.64.

A variety of analysts have voiced their opinions concerning Marvell Technology's stock. For instance, Barclays recently raised its price target from $85.00 to $115.00, giving the firm an "overweight" rating in a report released on December 4th. Similarly, Craig Hallum elevated its price target from $132.00 to $149.00 with a "buy" rating noted in a Monday report. Piper Sandler reiterated an "overweight" rating and updated its price target to $120.00, an increase from its previous figure of $100.00, also noted on December 4th. Additionally, JPMorgan Chase lifted its price target from $90.00 to $130.00 while maintaining an "overweight" rating in another December 4th report. Loop Capital raised their target for Marvell Technology from $95.00 to $110.00, labeling the stock with a "hold" rating on the same day.

Insider Transactions at Marvell Technology

In insider trading news, Muhammad Raghib Hussain, an insider, sold 150,000 shares of the company on October 15th. The shares were sold at an average price of $80.50, amounting to a total transaction value of $12,075,000.00. After this sale, the insider retained 694,487 shares in the company, which are currently valued at approximately $55,906,203.50. This sale reflects a 17.76% decrease in their ownership. This transaction was officially disclosed in a filing with the Securities & Exchange Commission.

Similarly, EVP Chris Koopmans sold 6,000 shares on October 21st at an average price of $80.77, which totaled $484,620.00. Following this sale, Koopmans now directly owns 109,244 shares valued at $8,823,637.88, marking a 5.21% decline in their ownership.

Institutional Investments in Marvell Technology

Many institutional investors and hedge funds have been altering their positions in Marvell Technology recently. For example, State Street Corp increased its stake by 0.3% in the third quarter, now owning 19,943,655 shares valued at $1,438,336,000, after adding 68,893 shares in the prior quarter. Ameriprise Financial Inc. increased its shareholding by 24.1% during the second quarter, now holding 11,623,872 shares valued at $812,509,000 due to the acquisition of an extra 2,254,610 shares. Geode Capital Management LLC boosted its ownership by 2.0% in the third quarter, now possessing 11,388,139 shares worth $818,916,000, following a purchase of 219,692 shares.

Wellington Management Group LLP also raised its stake by 4.3% in the third quarter, owning 8,694,320 shares valued at $627,034,000 after obtaining an additional 359,005 shares. Lastly, Van ECK Associates Corp increased its investment by 26.6% in the third quarter, now holding 7,471,823 shares valued at $538,868,000 after acquiring an additional 1,570,050 shares. Overall, institutional investors own about 83.51% of the stock.

Current Stock Performance of Marvell Technology

The stock of Marvell Technology opened at $116.23 on the recent trading day. The firm showcases a quick ratio of 1.11 and a current ratio of 1.60, with a debt-to-equity ratio of 0.30. Over the past year, the stock has seen a low of $53.19 and a high of $126.15. The 50-day moving average is currently $101.87, while the 200-day moving average stands at $81.95. Marvell Technology's market capitalization is approximately $100.57 billion, with a price-to-earnings ratio of -68.37, a price-to-earnings-growth ratio at 4.03, and a beta of 1.41.

Dividend Announcement from Marvell Technology

Marvell Technology has also declared a quarterly dividend, set to be paid on January 30th. Shareholders on record as of January 10th will receive a dividend of $0.06 per share. The ex-dividend date is also January 10th. This dividend translates to an annualized payout of $0.24, reflecting a yield of 0.21%. Marvell's current dividend payout ratio stands at -14.12%.

Overview of Marvell Technology

Marvell Technology, Inc., along with its subsidiaries, specializes in data infrastructure semiconductor solutions, which range from data center core to network edge. The company focuses on developing and refining complex System-on-a-Chip architectures that integrate various functionalities, including analog, mixed-signal, and digital signal processing.

Marvell, Technology, Finance