Marvell Technology (NASDAQ:MRVL) Given New $100.00 Price Target at UBS Group

Marvell Technology (NASDAQ:MRVL) had its target price trimmed by UBS Group from $110.00 to $100.00 in a research report released on Monday,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

MRVL has been the subject of a number of other reports. Cantor Fitzgerald downgraded 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. Morgan Stanley decreased their price target on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Citigroup decreased their price target on Marvell Technology from $122.00 to $96.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Roth Capital set a $100.00 price target on Marvell Technology in a research note on Thursday, March 6th. Finally, William Blair raised Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Four analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $110.69.

Marvell Technology Price Performance

Shares of MRVL opened at $62.56 on Monday. The company has a market cap of $54.04 billion, a P/E ratio of -36.80, a PEG ratio of 1.61 and a beta of 1.83. The stock has a fifty day moving average price of $60.22 and a 200 day moving average price of $88.63. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology has a 12 month low of $47.09 and a 12 month high of $127.48.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology’s payout ratio is currently -23.53%.

Insiders Place Their Bets

In other news, EVP Mark Casper sold 12,460 shares of the stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the transaction, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $2,138,125. This represents a 4.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,541 shares of company stock valued at $2,079,948 in the last three months. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Marvell Technology by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,702,611 shares of the semiconductor company’s stock valued at $474,250,000 after buying an additional 362,409 shares during the last quarter. Ascent Group LLC acquired a new stake in Marvell Technology in the 1st quarter valued at approximately $1,897,000. Clearline Capital LP acquired a new stake in Marvell Technology in the 1st quarter valued at approximately $4,112,000. Sciencast Management LP grew its holdings in Marvell Technology by 191.7% in the 1st quarter. Sciencast Management LP now owns 50,546 shares of the semiconductor company’s stock valued at $3,112,000 after buying an additional 33,218 shares during the last quarter. Finally, Fred Alger Management LLC grew its holdings in Marvell Technology by 14.4% in the 1st quarter. Fred Alger Management LLC now owns 253,768 shares of the semiconductor company’s stock valued at $15,624,000 after buying an additional 31,926 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Company Profile

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.