Marvell Technology (NASDAQ:MRVL) Stock Price Up 1% – Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL)’s stock price was up 1% during mid-day trading on Tuesday . The company traded as high as $115.95 and last traded at $114.88. Approximately 2,299,555 shares were traded during trading, a decline of 82% from the average daily volume of 12,667,961 shares. The stock had previously closed at $113.76.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Craig Hallum boosted their price objective on Marvell Technology from $88.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley upped their price target on shares of Marvell Technology from $102.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. B. Riley lifted their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Oppenheimer increased their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $119.76.

Marvell Technology Stock Up 1.9 %

The firm has a market capitalization of $100.33 billion, a PE ratio of -68.21, a price-to-earnings-growth ratio of 4.03 and a beta of 1.46. The firm’s 50-day moving average is $96.06 and its 200 day moving average is $79.24. 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 paid a dividend of $0.06 per share. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the transaction, the chief financial officer now owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the sale, the executive vice president now directly owns 97,244 shares in the company, valued at $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 175,000 shares of company stock valued at $14,444,745. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marvell Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. HB Wealth Management LLC grew its position in Marvell Technology by 51.5% during the second quarter. HB Wealth Management LLC now owns 15,297 shares of the semiconductor company’s stock valued at $1,069,000 after acquiring an additional 5,203 shares during the period. Arkadios Wealth Advisors acquired a new stake in Marvell Technology during the 2nd quarter worth approximately $408,000. UMB Bank n.a. raised its holdings in Marvell Technology by 8.5% in the second quarter. UMB Bank n.a. now owns 6,113 shares of the semiconductor company’s stock valued at $427,000 after buying an additional 477 shares during the period. Signaturefd LLC lifted its position in Marvell Technology by 7.1% during the second quarter. Signaturefd LLC now owns 11,458 shares of the semiconductor company’s stock valued at $801,000 after buying an additional 755 shares in the last quarter. Finally, iA Global Asset Management Inc. grew its stake in Marvell Technology by 93.5% during the second quarter. iA Global Asset Management Inc. now owns 157,218 shares of the semiconductor company’s stock worth $10,990,000 after buying an additional 75,988 shares during the period. Hedge funds and other 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.