Marvell Technology (NASDAQ:MRVL) Stock Price Up 2.4% – Time to Buy?

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price rose 2.4% on Tuesday . The company traded as high as $68.84 and last traded at $67.24. Approximately 8,149,943 shares changed hands during trading, a decline of 36% from the average daily volume of 12,737,600 shares. The stock had previously closed at $65.67.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Bank of America reduced their price target on Marvell Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Cantor Fitzgerald boosted their target price on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Roth Capital set a $100.00 price target on Marvell Technology in a research note on Thursday, March 6th. The Goldman Sachs Group boosted their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Trading Up 2.3 %

The stock has a market cap of $58.11 billion, a P/E ratio of -39.51, a P/E/G ratio of 1.61 and a beta of 1.42. 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 firm’s 50 day moving average price is $107.36 and its 200-day moving average price is $93.97.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.36%. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Insiders Place Their Bets

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the sale, the chief operating officer now owns 87,931 shares of the company’s stock, valued at approximately $9,351,461.85. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brad W. Buss bought 3,000 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were bought at an average price of $69.00 per share, with a total value of $207,000.00. Following the completion of the purchase, the director now owns 87,113 shares in the company, valued at approximately $6,010,797. The trade was a 3.57 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 36,255 shares of company stock valued at $4,330,980. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Several large investors have recently modified their holdings of MRVL. State Street Corp grew its stake in shares of Marvell Technology by 0.3% during the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after purchasing an additional 68,893 shares during the period. Invesco Ltd. boosted its holdings in shares of Marvell Technology by 30.1% in the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock worth $1,784,649,000 after buying an additional 3,737,705 shares during the last quarter. Janus Henderson Group PLC raised its position in Marvell Technology by 6.9% in the fourth quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company’s stock worth $1,462,274,000 after acquiring an additional 857,087 shares during the period. Wellington Management Group LLP boosted its stake in shares of Marvell Technology by 43.1% during the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock worth $1,374,252,000 after acquiring an additional 3,747,982 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Marvell Technology by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock worth $1,263,755,000 after acquiring an additional 80,005 shares during the last quarter. 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.