Marvell Technology (NASDAQ:MRVL) Trading Up 2.9% – Time to Buy?

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) rose 2.9% during trading on Monday . The stock traded as high as $107.02 and last traded at $106.51. Approximately 13,532,440 shares were traded during trading, an increase of 4% from the average daily volume of 13,070,750 shares. The stock had previously closed at $103.50.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MRVL shares. Loop Capital raised their target price on Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Cantor Fitzgerald increased their target price on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Oppenheimer lifted their price target on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. TD Cowen boosted their price target on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Bank of America raised their price objective on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Trading Up 3.5 %

The business’s 50-day simple moving average is $113.93 and its two-hundred day simple moving average is $91.10. The firm has a market capitalization of $96.08 billion, a price-to-earnings ratio of -65.32, a PEG ratio of 1.58 and a beta of 1.40. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the transaction, the executive vice president now owns 97,244 shares in the company, valued at approximately $11,912,390. The trade was a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,255 shares of company stock worth $3,692,880. 0.33% of the stock is currently owned by company insiders.

Institutional Trading of Marvell Technology

A number of large investors have recently modified their holdings of the stock. True Wealth Design LLC grew its stake in Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares in the last quarter. ORG Partners LLC grew its position in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after buying an additional 149 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Marvell Technology during the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new stake in Marvell Technology in the fourth quarter valued at approximately $27,000. Finally, Kieckhefer Group LLC acquired a new position in Marvell Technology during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors 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.