Marvell Technology (NASDAQ:MRVL) Stock Price Up 3.3% – Should You Buy?

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) rose 3.3% during trading on Monday . The company traded as high as $55.02 and last traded at $51.08. Approximately 10,820,112 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 13,100,032 shares. The stock had previously closed at $49.43.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MRVL shares. Barclays cut their target price on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. William Blair raised Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Craig Hallum boosted their target price on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, January 6th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, Stifel Nicolaus reduced their price objective on shares of Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

Marvell Technology Stock 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 firm has a market cap of $44.17 billion, a P/E ratio of -30.00, a P/E/G ratio of 1.61 and a beta of 1.78. The company’s 50 day moving average is $86.44 and its 200 day moving average is $93.06.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s payout ratio is -23.53%.

Insider Buying and Selling

In other news, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the sale, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at $2,138,125. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,185 shares of company stock worth $3,131,018 in the last 90 days. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Institutional investors have recently made changes to their positions in the stock. Benjamin Edwards Inc. increased its position in Marvell Technology by 1,231.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 4,499 shares of the semiconductor company’s stock valued at $325,000 after purchasing an additional 4,161 shares during the period. Integrated Wealth Concepts LLC increased its position in shares of Marvell Technology by 1.4% during the third quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock worth $716,000 after buying an additional 139 shares during the period. Quantinno Capital Management LP increased its position in shares of Marvell Technology by 44.3% during the third quarter. Quantinno Capital Management LP now owns 52,048 shares of the semiconductor company’s stock worth $3,754,000 after buying an additional 15,968 shares during the period. EP Wealth Advisors LLC raised its stake in Marvell Technology by 8.9% during the third quarter. EP Wealth Advisors LLC now owns 8,399 shares of the semiconductor company’s stock worth $606,000 after buying an additional 688 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its holdings in Marvell Technology by 1.0% in the third quarter. Orion Portfolio Solutions LLC now owns 25,289 shares of the semiconductor company’s stock valued at $1,824,000 after buying an additional 249 shares during the period. 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.