Marvell Technology (NASDAQ:MRVL) Given New $90.00 Price Target at Susquehanna

Marvell Technology (NASDAQ:MRVL) had its price objective reduced by Susquehanna from $110.00 to $90.00 in a research note released on Tuesday,Benzinga reports. Susquehanna currently has a positive rating on the semiconductor company’s stock.

Several other analysts have also recently weighed in on MRVL. Melius Research cut shares of Marvell Technology from a “strong-buy” rating to a “hold” rating and set a $66.00 price objective for the company. in a research note on Thursday, May 22nd. Piper Sandler cut their price target on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Cantor Fitzgerald lowered Marvell Technology from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $125.00 to $60.00 in a research note on Wednesday, May 7th. Benchmark cut their target price on Marvell Technology from $135.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Finally, Morgan Stanley reduced their target price on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Six investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.22.

Marvell Technology Stock Up 5.2%

MRVL stock opened at $63.82 on Tuesday. Marvell Technology has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The stock has a market capitalization of $55.13 billion, a price-to-earnings ratio of -37.54, a PEG ratio of 1.61 and a beta of 1.83. The business’s fifty day moving average price is $59.26 and its two-hundred day moving average price is $87.45.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is -23.53%.

Insider Buying and Selling

In other Marvell Technology news, Director Brad W. Buss purchased 3,000 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were bought at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the acquisition, the director now owns 87,113 shares in the company, valued at approximately $6,010,797. This trade represents a 3.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Casper sold 626 shares of the business’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $61.10, for a total transaction of $38,248.60. Following the completion of the sale, the executive vice president now directly owns 626 shares in the company, valued at approximately $38,248.60. This represents a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,541 shares of company stock worth $2,079,948 in the last 90 days. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MRVL. Advisors Capital Management LLC grew its position in shares of Marvell Technology by 6.2% in the 1st quarter. Advisors Capital Management LLC now owns 8,770 shares of the semiconductor company’s stock valued at $540,000 after buying an additional 515 shares during the last quarter. SWS Partners lifted its stake in shares of Marvell Technology by 27.8% in the first quarter. SWS Partners now owns 68,476 shares of the semiconductor company’s stock worth $4,216,000 after acquiring an additional 14,884 shares during the period. Siren L.L.C. boosted its holdings in Marvell Technology by 636.2% in the first quarter. Siren L.L.C. now owns 36,808 shares of the semiconductor company’s stock valued at $2,266,000 after acquiring an additional 31,808 shares during the last quarter. Westbourne Investments Inc. acquired a new stake in Marvell Technology during the 1st quarter valued at approximately $246,000. Finally, Acadian Asset Management LLC increased its position in Marvell Technology by 108.5% during the 1st quarter. Acadian Asset Management LLC now owns 116,550 shares of the semiconductor company’s stock valued at $7,171,000 after purchasing an additional 60,649 shares during the period. 83.51% of the stock is owned by institutional investors.

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.