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Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) has been assigned an average recommendation of “Moderate Buy” from the thirty research firms that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $63.92. MRVL has been the topic of a number of research analyst reports. Cowen dropped their price target on Marvell Technology from $70.00 to $55.00 in a research note on Friday, December 2nd. KeyCorp dropped their price target on Marvell Technology from $75.00 to $65.00 in a research note on Friday, December 2nd. Stifel Nicolaus decreased their price objective on Marvell Technology from $78.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, September 29th. Citigroup decreased their price objective on Marvell Technology from $71.00 to $65.00 in a report on Friday, December 2nd. Finally, Morgan Stanley decreased their price objective on Marvell Technology from $60.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, December 2nd.
Insider Activity at Marvell Technology
In other Marvell Technology news, CAO Willem A. Meintjes sold 10,000 shares of the stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $34.92, for a total value of $349,200.00. Following the completion of the transaction, the chief accounting officer now directly owns 72,896 shares in the company, valued at $2,545,528.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Marvell Technology news, EVP Mitchell Gaynor sold 5,000 shares of the stock in a transaction dated Saturday, October 15th. The stock was sold at an average price of $39.61, for a total value of $198,050.00. Following the completion of the transaction, the executive vice president now directly owns 103,429 shares in the company, valued at $4,096,822.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Willem A. Meintjes sold 10,000 shares of the firm’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $34.92, for a total value of $349,200.00. Following the transaction, the chief accounting officer now owns 72,896 shares of the company’s stock, valued at $2,545,528.32. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Marvell Technology
A number of hedge funds have recently made changes to their positions in the stock. American National Bank raised its position in shares of Marvell Technology by 2,173.2% during the fourth quarter. American National Bank now owns 1,273 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 1,217 shares during the last quarter. Avitas Wealth Management LLC raised its position in shares of Marvell Technology by 55.5% during the fourth quarter. Avitas Wealth Management LLC now owns 8,264 shares of the semiconductor company’s stock worth $306,000 after acquiring an additional 2,949 shares during the last quarter. MinichMacGregor Wealth Management LLC bought a new position in shares of Marvell Technology during the fourth quarter worth about $39,000. Yousif Capital Management LLC raised its position in shares of Marvell Technology by 23.5% during the fourth quarter. Yousif Capital Management LLC now owns 12,397 shares of the semiconductor company’s stock worth $459,000 after acquiring an additional 2,355 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Marvell Technology by 7.8% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 80,118 shares of the semiconductor company’s stock worth $2,968,000 after acquiring an additional 5,826 shares during the last quarter. 81.28% of the stock is currently owned by institutional investors.
Marvell Technology Trading Up 0.2 %
Shares of Marvell Technology stock opened at $37.01 on Wednesday. Marvell Technology has a 12-month low of $33.75 and a 12-month high of $87.42. The stock has a market cap of $31.58 billion, a P/E ratio of -231.31, a P/E/G ratio of 2.21 and a beta of 1.45. The company has a quick ratio of 0.92, a current ratio of 1.31 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $40.28 and its 200-day moving average is $44.68.
Marvell Technology Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Friday, January 6th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.65%. The ex-dividend date is Thursday, January 5th. Marvell Technology’s dividend payout ratio (DPR) is presently -150.00%.
Marvell Technology Company Profile
(Get Rating)
Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors.
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