Several other analysts have also commented on the stock. Rosenblatt Securities increased their target price on shares of Marvell Technology from $120.00 to $125.00 and gave the company a buy rating in a research note on Friday, March 4th. B. Riley cut their target price on shares of Marvell Technology from $95.00 to $72.00 in a research note on Monday, May 23rd. Morgan Stanley cut their target price on shares of Marvell Technology from $86.00 to $80.00 and set an equal weight rating for the company in a research note on Friday, March 4th. StockNews.com began coverage on shares of Marvell Technology in a research note on Thursday, March 31st. They set a sell rating for the company. Finally, Susquehanna reduced their price target on shares of Marvell Technology from $105.00 to $90.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $87.00.
Marvell Technology stock opened at $60.82 on Friday. The firm has a 50 day simple moving average of $61.92 and a 200-day simple moving average of $70.88. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.80 and a quick ratio of 1.28. The stock has a market capitalization of $51.74 billion, a PE ratio of -112.63, a price-to-earnings-growth ratio of 1.80 and a beta of 1.27. Marvell Technology has a 12-month low of $46.77 and a 12-month high of $93.85.
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 27th. Investors of record on Friday, April 8th were paid a $0.06 dividend. The ex-dividend date of this dividend was Thursday, April 7th. This represents a $0.24 dividend on an annualized basis and a yield of 0.39%. Marvell Technology’s payout ratio is presently -44.44%.
In other Marvell Technology news, EVP Dan Christman sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $75.87, for a total value of $1,138,050.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Loi Nguyen sold 9,189 shares of the firm’s stock in a transaction on Tuesday, April 26th. The stock was sold at an average price of $60.00, for a total transaction of $551,340.00. Following the completion of the sale, the executive vice president now owns 207,687 shares in the company, valued at $12,461,220. The disclosure for this sale can be found here. Insiders sold a total of 208,610 shares of company stock worth $13,591,746 over the last quarter. 0.45% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. MUFG Americas Holdings Corp lifted its holdings in shares of Marvell Technology by 90.2% during the 1st quarter. MUFG Americas Holdings Corp now owns 369 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 175 shares during the period. SkyView Investment Advisors LLC bought a new position in Marvell Technology during the 4th quarter valued at about $26,000. HM Payson & Co. lifted its holdings in Marvell Technology by 52.5% during the 3rd quarter. HM Payson & Co. now owns 453 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 156 shares during the last quarter. Pittenger & Anderson Inc. bought a new position in Marvell Technology during the 4th quarter valued at about $27,000. Finally, Covestor Ltd bought a new position in shares of Marvell Technology in the fourth quarter worth about $28,000. 83.11% of the stock is owned by institutional investors.
About Marvell Technology (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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