Marvell Technology, Inc. (NASDAQ:MRVL) Short Interest Update

Marvell Technology, Inc. (NASDAQ:MRVL) saw a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 19,540,000 shares, a growth of 22.3% from the January 31st total of 15,980,000 shares. Based on an average daily trading volume, of 14,680,000 shares, the short-interest ratio is presently 1.3 days.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the sale, the chief financial officer now owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the transaction, the chief operating officer now owns 87,931 shares of the company’s stock, valued at $9,351,461.85. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,255 shares of company stock valued at $4,330,980. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

A number of hedge funds have recently made changes to their positions in the stock. Castle Rock Wealth Management LLC grew its stake in Marvell Technology by 165.8% in the fourth quarter. Castle Rock Wealth Management LLC now owns 16,283 shares of the semiconductor company’s stock valued at $1,734,000 after purchasing an additional 10,157 shares during the last quarter. Total Wealth Planning & Management Inc. bought a new stake in shares of Marvell Technology in the 4th quarter valued at about $824,000. Menard Financial Group LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth approximately $669,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Marvell Technology during the 4th quarter worth approximately $105,450,000. Finally, Chelsea Counsel Co. purchased a new stake in Marvell Technology during the fourth quarter valued at approximately $44,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Summit Insights downgraded shares of Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday. JPMorgan Chase & Co. lifted their target price on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Morgan Stanley decreased their target price on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Thursday. Oppenheimer raised their price target on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, William Blair raised Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.68.

Marvell Technology Stock Down 19.8 %

Shares of Marvell Technology stock traded down $17.88 during trading on Thursday, hitting $72.26. 55,036,013 shares of the stock traded hands, compared to its average volume of 12,770,605. Marvell Technology has a 52-week low of $53.19 and a 52-week high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a market cap of $62.53 billion, a P/E ratio of -42.51, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The stock’s fifty day simple moving average is $110.00 and its 200 day simple moving average is $93.82.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.33%. Marvell Technology’s dividend payout ratio is presently -14.12%.

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.