Marvell Technology (NASDAQ:MRVL) Trading 4.4% Higher – What’s Next?

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price shot up 4.4% during mid-day trading on Friday . The company traded as high as $114.89 and last traded at $115.23. 3,378,040 shares traded hands during trading, a decline of 73% from the average session volume of 12,703,683 shares. The stock had previously closed at $110.33.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of recent analyst reports. Loop Capital increased their price target on Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Craig Hallum raised their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Melius initiated coverage on shares of Marvell Technology in a research note on Monday. They set a “buy” rating and a $188.00 target price on the stock. Morgan Stanley dropped their price target on Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company lifted their target price on Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Trading Up 4.4 %

The firm has a market cap of $99.65 billion, a price-to-earnings ratio of -67.42, a P/E/G ratio of 3.51 and a beta of 1.41. 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 business has a 50-day moving average of $111.31 and a 200-day moving average of $87.15.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. Marvell Technology’s payout ratio is -14.12%.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology 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 completion of the transaction, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,755 shares of company stock worth $4,361,430. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

A number of institutional investors have recently bought and sold shares of MRVL. Beaton Management Co. Inc. acquired a new stake in shares of Marvell Technology in the 4th quarter valued at $244,000. Atria Wealth Solutions Inc. grew its stake in shares of Marvell Technology by 4.2% during the fourth quarter. Atria Wealth Solutions Inc. now owns 44,190 shares of the semiconductor company’s stock worth $4,881,000 after buying an additional 1,791 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Marvell Technology by 993.5% during the 4th quarter. Venturi Wealth Management LLC now owns 2,712 shares of the semiconductor company’s stock valued at $300,000 after acquiring an additional 2,464 shares in the last quarter. Pinnbrook Capital Management LP acquired a new position in Marvell Technology in the 4th quarter worth about $1,493,000. Finally, CIBC Asset Management Inc boosted its stake in shares of Marvell Technology by 3.5% during the fourth quarter. CIBC Asset Management Inc now owns 197,102 shares of the semiconductor company’s stock valued at $21,770,000 after purchasing an additional 6,699 shares in the last quarter. 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.