Marvell Technology (NASDAQ:MRVL) Trading 3.8% Higher – Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price traded up 3.8% during mid-day trading on Wednesday . The stock traded as high as $112.50 and last traded at $111.34. 4,341,984 shares changed hands during trading, a decline of 66% from the average session volume of 12,772,446 shares. The stock had previously closed at $107.29.

Analyst Ratings Changes

A number of research firms have weighed in on MRVL. Evercore ISI upped their price objective 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. Barclays increased their price target on Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Oppenheimer lifted their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Melius Research upgraded Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Loop Capital lifted their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Price Performance

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 capitalization of $95.99 billion, a price-to-earnings ratio of -64.93, a price-to-earnings-growth ratio of 1.58 and a beta of 1.40. The business’s 50 day simple moving average is $113.93 and its 200-day simple moving average is $91.10.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the transaction, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,255 shares of company stock valued at $3,692,880 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRVL. Centricity Wealth Management LLC bought a new position in Marvell Technology during the fourth quarter valued at about $26,000. ORG Partners LLC boosted its position in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Rialto Wealth Management LLC bought a new position in shares of Marvell Technology during the 4th quarter valued at about $27,000. Kieckhefer Group LLC bought a new stake in shares of Marvell Technology in the 4th quarter worth approximately $33,000. Finally, Financial Life Planners acquired a new stake in Marvell Technology during the fourth quarter valued at approximately $33,000. 83.51% of the stock is owned by institutional investors.

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.