Marvell Technology (NASDAQ:MRVL) Trading Up 0.4% – Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL) rose 0.4% during mid-day trading on Thursday . The company traded as high as $117.86 and last traded at $116.90. Approximately 2,642,227 shares changed hands during trading, a decline of 79% from the average daily volume of 12,842,709 shares. The stock had previously closed at $116.46.

Analyst Ratings Changes

MRVL has been the topic of a number of research analyst reports. Evercore ISI boosted their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Cantor Fitzgerald upped their price objective on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and issued a $120.00 target price (up from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. B. Riley upped their price target on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Melius Research raised Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. 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 stock. Based on data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Trading Down 7.2 %

The firm has a market cap of $95.72 billion, a PE ratio of -65.07, a PEG ratio of 1.77 and a beta of 1.40. 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’s 50 day simple moving average is $113.59 and its 200 day simple moving average is $88.68.

Marvell Technology Announces Dividend

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

Insiders Place Their Bets

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the sale, the chief financial officer now owns 114,211 shares of the company’s stock, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares in the company, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marvell Technology

Large investors have recently modified their holdings of the stock. True Wealth Design LLC grew 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 worth $25,000 after acquiring an additional 326 shares during the period. ORG Partners LLC lifted its position in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of Marvell Technology during the 4th quarter valued at $26,000. Rialto Wealth Management LLC bought a new stake in Marvell Technology during the fourth quarter worth about $27,000. Finally, Kieckhefer Group LLC purchased a new stake in Marvell Technology in the fourth quarter worth about $33,000. 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.