Marvell Technology (NASDAQ:MRVL) Shares Up 1.7% – Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL)’s stock price traded up 1.7% during trading on Thursday . The company traded as high as $118.41 and last traded at $118.23. 8,362,899 shares traded hands during trading, a decline of 24% from the average session volume of 11,032,892 shares. The stock had previously closed at $116.23.

Analyst Ratings Changes

A number of analysts recently weighed in on MRVL shares. Citigroup increased their price objective on Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley lifted their price objective on Marvell Technology from $102.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Barclays increased their price objective on shares of Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company upped their price target on shares of Marvell Technology from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Evercore ISI lifted their target price on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating and twenty-four have given a 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 target price of $120.64.

Marvell Technology Stock Up 1.7 %

The stock has a fifty day simple moving average of $101.87 and a two-hundred day simple moving average of $81.95. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a market cap of $102.30 billion, a PE ratio of -69.55, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $120,750.00. Following the transaction, the chief financial officer now directly owns 110,253 shares in the company, valued at $8,875,366.50. This trade represents a 1.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the transaction, the executive vice president now owns 109,244 shares in the company, valued at $8,823,637.88. The trade was a 5.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 180,000 shares of company stock worth $15,163,420. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Marvell Technology

Several large investors have recently modified their holdings of the business. True Wealth Design LLC boosted its stake 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 valued at $25,000 after purchasing an additional 326 shares in the last quarter. Quarry LP purchased a new position in shares of Marvell Technology during the 2nd quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Marvell Technology in the 2nd quarter valued at approximately $32,000. Whittier Trust Co. boosted its position in shares of Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares in the last quarter. Finally, Goodman Advisory Group LLC purchased a new stake in Marvell Technology in the third quarter worth $37,000. 83.51% of the stock is owned by institutional investors.

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.