Marvell Technology (NASDAQ:MRVL) Stock Price Up 0.1% – Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL) shares shot up 0.1% during mid-day trading on Tuesday . The stock traded as high as $82.42 and last traded at $81.90. 1,392,371 shares were traded during trading, a decline of 89% from the average session volume of 12,308,104 shares. The stock had previously closed at $81.83.

Analyst Ratings Changes

A number of brokerages have commented on MRVL. StockNews.com cut shares of Marvell Technology from a “hold” rating to a “sell” rating in a research note on Friday. Piper Sandler reissued an “overweight” rating and issued a $100.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Evercore ISI boosted their target price on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Benchmark increased their price target on Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Rosenblatt Securities increased their target price on Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $91.62.

Marvell Technology Stock Performance

The stock has a market cap of $71.96 billion, a PE ratio of -72.48, a P/E/G ratio of 3.17 and a beta of 1.45. The stock has a 50-day moving average of $72.42 and a 200 day moving average of $70.26. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. Marvell Technology’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share. Equities analysts predict that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Insider Buying and Selling

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the transaction, the chief financial officer now owns 113,253 shares of the company’s stock, valued at $7,559,637.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the transaction, the chief financial officer now owns 113,253 shares of the company’s stock, valued at approximately $7,559,637.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Muhammad Raghib Hussain sold 150,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the sale, the insider now owns 694,487 shares of the company’s stock, valued at $55,906,203.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 255,000 shares of company stock valued at $19,846,215. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Marvell Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Davidson Kempner Capital Management LP boosted its position in Marvell Technology by 26.5% in the 2nd quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock valued at $17,482,000 after buying an additional 52,365 shares during the period. Diversified Trust Co purchased a new position in Marvell Technology in the second quarter valued at $932,000. Orion Portfolio Solutions LLC grew its stake in Marvell Technology by 47.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock worth $2,282,000 after purchasing an additional 10,306 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Marvell Technology by 24.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after purchasing an additional 2,254,610 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Marvell Technology by 20.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 529,127 shares of the semiconductor company’s stock valued at $37,505,000 after buying an additional 88,918 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

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.