Marvell Technology (NASDAQ:MRVL) Trading 1% Higher – Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL)’s stock price was up 1% during trading on Wednesday . The stock traded as high as $69.40 and last traded at $68.95. Approximately 2,272,639 shares changed hands during trading, a decline of 82% from the average daily volume of 12,633,884 shares. The stock had previously closed at $68.28.

Analyst Ratings Changes

A number of brokerages have weighed in on MRVL. The Goldman Sachs Group upped their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Cantor Fitzgerald upped their price target on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Morgan Stanley lowered their price objective on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Wells Fargo & Company reissued an “overweight” rating on shares of Marvell Technology in a research note on Thursday, March 6th. Finally, TD Cowen reduced their price target on Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Stock Down 1.2 %

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 $60.29 billion, a PE ratio of -40.90, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company’s 50-day moving average price is $99.94 and its 200 day moving average price is $93.56.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the sale, the executive vice president now owns 24,706 shares in the company, valued at approximately $2,791,778. This trade represents a 9.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the transaction, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. This trade represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,685 shares of company stock valued at $4,026,768. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. True Wealth Design LLC boosted 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 during the last quarter. ORG Partners LLC increased its stake in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Marvell Technology during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new position in shares of Marvell Technology during the 4th quarter valued at approximately $27,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Marvell Technology in the fourth quarter valued at $33,000. Institutional investors 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.