Marvell Technology, Inc. Director Purchases $207,000 in Stock

On March 7th, Brad W. Buss, a director at Marvell Technology, Inc. (NASDAQ: MRVL), purchased 3,000 shares of the company’s stock. The shares were bought at an average price of $69.00 each, totaling $207,000 for the transaction. After this purchase, Buss now holds 87,113 shares of Marvell, which are currently valued at approximately $6,010,797. This transaction increased his ownership stake by 3.57%. The details of the purchase have been officially reported in a filing with the SEC, which is accessible on their website.

Marvell Technology's Stock Overview

During trading on the same day, Marvell’s stock price decreased by $1.44, bringing the trading price down to $70.84. A total of 38,787,463 shares changed hands, significantly higher than the average daily trading volume of 12,789,635 shares. Currently, Marvell Technology has a market capitalization of $61.30 billion and a price-to-earnings ratio of -41.67. The company has a debt-to-equity ratio of 0.30, alongside a current ratio of 1.60 and a quick ratio of 1.11. Over the past year, Marvell's share prices have fluctuated, with a low of $53.19 and a high of $127.48.

Dividend Declaration

Marvell recently announced a quarterly dividend that was paid on January 30th. Shareholders who were on record as of January 10th received a dividend of $0.06 per share, translating to an annualized dividend of $0.24, which amounts to a yield of 0.34%. The ex-dividend date for this dividend was also set for January 10th. Marvell has a payout ratio of -14.12%, indicating that its dividends are currently not drawing from its earnings.

Analyst Ratings and Market Insights

Several analysts have recently assessed Marvell Technology's stock. Citigroup revised its price target down from $136.00 to $122.00 while maintaining a "buy" rating. Craig Hallum raised its price target from $132.00 to $149.00, also maintaining a "buy" rating. In addition, William Blair upgraded Marvell to a "strong-buy" rating. UBS increased its price target from $110.00 to $115.00, advising a "buy" rating, and Goldman Sachs raised its price target from $115.00 to $131.00. Currently, the stock has three hold ratings, twenty-four buy ratings, and two strong buy ratings, resulting in a consensus rating of "Moderate Buy" with a target price of $121.68.

Institutional Investors and Shareholding

Institutional investors have also been active, buying and selling Marvell shares. One notable example is True Wealth Design LLC, which increased its stake in Marvell by 1,481.8% during the third quarter. After this boost, True Wealth now owns 348 shares valued at about $25,000. Other institutional players such as ORG Partners LLC and Kieckhefer Group LLC have similarly boosted their holdings in Marvell, indicating strong institutional interest in the company. Currently, institutional investors own 83.51% of Marvell's total stock.

Company Background

Marvell Technology, Inc. operates alongside its subsidiaries by delivering semiconductor solutions focusing on data infrastructure. The firm specializes in creating sophisticated System-on-a-Chip architectures that combine various technologies like analog, mixed-signal, and digital signal processing capabilities.

Acquisition, Stock, Market