Marvell Technology (NASDAQ:MRVL) Trading 2.4% Higher – Time to Buy?

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) rose 2.4% during mid-day trading on Thursday . The company traded as high as $112.00 and last traded at $109.39. Approximately 5,108,123 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 12,702,107 shares. The stock had previously closed at $106.79.

Analyst Ratings Changes

A number of brokerages recently commented on MRVL. Piper Sandler reiterated an “overweight” rating and set a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Craig Hallum boosted their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Needham & Company LLC increased their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Cantor Fitzgerald raised their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company increased their price objective on Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Trading Up 3.3 %

The firm has a market capitalization of $95.47 billion, a PE ratio of -64.90, a PEG ratio of 4.12 and a beta of 1.41. The company’s 50-day moving average price is $110.97 and its 200-day moving average price is $86.99. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date is 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

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the transaction, the executive vice president now owns 103,244 shares in the company, valued at $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the sale, the chief financial officer now owns 111,211 shares in the company, valued at $13,159,597.63. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Marvell Technology

A number of large investors have recently bought and sold shares of MRVL. True Wealth Design LLC boosted its stake in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying an additional 326 shares during the period. ORG Partners LLC lifted its position in Marvell Technology by 175.3% during 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 period. Strategic Investment Solutions Inc. IL purchased a new position in shares of Marvell Technology in the 2nd quarter valued at approximately $32,000. Quarry LP purchased a new stake in shares of Marvell Technology during the second quarter worth approximately $32,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Marvell Technology during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds 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.