Marvell Technology (NASDAQ:MRVL) Stock Price Up 0.2% – Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL) shares rose 0.2% during trading on Friday . The company traded as high as $127.20 and last traded at $126.26. Approximately 2,164,135 shares were traded during trading, a decline of 79% from the average daily volume of 10,298,308 shares. The stock had previously closed at $126.06.

Analyst Ratings Changes

MRVL has been the topic of a number of recent research reports. Morgan Stanley raised their target price on Marvell Technology from $102.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Rosenblatt Securities upped their target price on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Loop Capital lifted their price target on Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Citigroup increased their price objective on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.38.

Marvell Technology Stock Down 1.6 %

The business’s 50 day moving average is $110.11 and its 200 day moving average is $86.36. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The stock has a market cap of $107.31 billion, a price-to-earnings ratio of -72.95, a price-to-earnings-growth ratio of 4.12 and a beta of 1.41.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. Marvell Technology’s dividend payout ratio is -14.12%.

Insider Buying and Selling

In other news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the transaction, the executive vice president now directly owns 103,244 shares in the company, valued at $9,203,170.16. The trade was a 5.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the sale, the chief financial officer now owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,755 shares of company stock valued at $4,361,430. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MRVL. ORG Partners LLC grew its stake in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares in the last quarter. Kieckhefer Group LLC bought a new stake in Marvell Technology in the fourth quarter worth approximately $33,000. Financial Life Planners acquired a new position in shares of Marvell Technology during the 4th quarter worth $33,000. True Wealth Design LLC raised its holdings in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Marvell Technology in the 2nd quarter valued at $32,000. 83.51% of the stock is owned by institutional investors and hedge funds.

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.