Marvell Technology, Inc. (NASDAQ:MRVL) Director Brad W. Buss Purchases 3,000 Shares

Marvell Technology, Inc. (NASDAQ:MRVL) Director Brad W. Buss purchased 3,000 shares of the business’s stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the transaction, the director now directly owns 87,113 shares of the company’s stock, valued at approximately $6,010,797. The trade was a 3.57 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Marvell Technology Stock Performance

Shares of Marvell Technology stock traded down $1.44 during mid-day trading on Friday, hitting $70.84. 38,787,463 shares of the stock were exchanged, compared to its average volume of 12,789,635. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company has a 50-day simple moving average of $109.13 and a 200 day simple moving average of $93.67. The company has a market capitalization of $61.30 billion, a P/E ratio of -41.67, a P/E/G ratio of 1.61 and a beta of 1.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.34%. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MRVL shares. KeyCorp decreased their target price on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday. Rosenblatt Securities reiterated a “buy” rating and issued a $140.00 price objective on shares of Marvell Technology in a research note on Thursday. Susquehanna increased their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group raised their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, B. Riley upped their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Three investment 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.68.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Zweig DiMenna Associates LLC boosted its holdings in shares of Marvell Technology by 6.3% in the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after buying an additional 12,700 shares during the last quarter. Berbice Capital Management LLC purchased a new position in Marvell Technology in the fourth quarter valued at about $637,000. RFG Advisory LLC boosted its stake in Marvell Technology by 6.2% in the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after acquiring an additional 2,507 shares during the last quarter. Braun Stacey Associates Inc. bought a new position in shares of Marvell Technology during the 3rd quarter valued at approximately $16,435,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Marvell Technology by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after purchasing an additional 66,654 shares during the period. Institutional investors own 83.51% of the company’s stock.

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.