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

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price traded up 0.4% during mid-day trading on Thursday . The stock traded as high as $106.77 and last traded at $105.88. 3,088,887 shares traded hands during trading, a decline of 76% from the average session volume of 12,817,765 shares. The stock had previously closed at $105.42.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America lifted their target price on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Susquehanna upped their target price on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Rosenblatt Securities increased their price target on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Stock Up 2.9 %

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 stock’s 50-day simple moving average is $113.94 and its 200-day simple moving average is $90.43. The firm has a market capitalization of $92.16 billion, a P/E ratio of -62.65, a P/E/G ratio of 1.77 and a beta of 1.40.

Marvell Technology Dividend Announcement

The firm 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. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio is presently -14.12%.

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the transaction, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the transaction, the executive vice president now owns 93,931 shares of the company’s stock, valued at $11,685,016.40. This represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,255 shares of company stock worth $3,692,880. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Marvell Technology

A number of large investors have recently made changes to their positions in MRVL. Zweig DiMenna Associates LLC boosted its stake in Marvell Technology by 6.3% in the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after purchasing an additional 12,700 shares during the period. Berbice Capital Management LLC bought a new position in Marvell Technology in the 4th quarter valued at $637,000. RFG Advisory LLC boosted its holdings in Marvell Technology by 6.2% in the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after purchasing an additional 2,507 shares during the period. Braun Stacey Associates Inc. bought a new position in Marvell Technology in the 3rd quarter valued at $16,435,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after buying an additional 66,654 shares during the period. 83.51% of the stock is owned by institutional investors.

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.