Marvell Technology (NASDAQ:MRVL) Trading Up 0.3% – Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL)’s stock price rose 0.3% during trading on Monday . The stock traded as high as $113.39 and last traded at $113.15. Approximately 3,625,485 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 12,820,441 shares. The stock had previously closed at $112.86.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MRVL shares. Craig Hallum lifted their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a report on Monday, January 6th. Needham & Company LLC upped their price objective on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Rosenblatt Securities boosted their target price on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Melius started coverage on shares of Marvell Technology in a report on Monday, January 27th. They issued a “buy” rating and a $188.00 price target on the stock. Finally, Evercore ISI increased their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Stock Up 0.6 %

The business’s fifty day simple moving average is $111.72 and its two-hundred day simple moving average is $87.65. 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 company has a market cap of $98.26 billion, a PE ratio of -66.80, a PEG ratio of 3.71 and a beta of 1.40.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insiders Place Their Bets

In other news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the sale, the executive vice president now directly owns 93,931 shares in the company, valued at $11,685,016.40. This represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the sale, the executive vice president now directly owns 24,706 shares in the company, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,755 shares of company stock valued at $4,361,430 in the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Marvell Technology

A number of institutional investors have recently modified their holdings of MRVL. True Wealth Design LLC raised its holdings in Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares during the last quarter. ORG Partners LLC increased its stake in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in Marvell Technology during the fourth quarter worth about $26,000. Quarry LP acquired a new stake in Marvell Technology in the 2nd quarter worth about $32,000. Finally, Kieckhefer Group LLC acquired a new stake in Marvell Technology in the 4th quarter worth about $33,000. Institutional investors and hedge funds 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.