Marvell Technology (NASDAQ:MRVL) Trading 2.4% Higher – What’s Next?

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price was up 2.4% on Tuesday . The stock traded as high as $105.05 and last traded at $102.77. Approximately 7,381,645 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 12,189,245 shares. The stock had previously closed at $100.33.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MRVL. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Benchmark reaffirmed a “buy” rating and set a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Oppenheimer increased their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. UBS Group boosted their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley reduced their target price on shares of Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating for the company in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Stock Performance

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 firm has a market capitalization of $89.89 billion, a P/E ratio of -61.11, a P/E/G ratio of 4.12 and a beta of 1.41. The stock’s 50 day moving average is $110.34 and its two-hundred day moving average is $86.64.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.23%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is presently -14.12%.

Insider Buying and Selling at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the transaction, the executive vice president now owns 103,244 shares in the company, valued at approximately $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the transaction, the chief financial officer now owns 114,211 shares of the company’s stock, valued at $10,180,768.54. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,755 shares of company stock valued at $4,361,430. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Marvell Technology by 22.0% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,440 shares of the semiconductor company’s stock worth $269,000 after acquiring an additional 440 shares in the last quarter. 17 Capital Partners LLC bought a new stake in Marvell Technology during the fourth quarter worth $469,000. Compass Financial Services Inc bought a new stake in Marvell Technology during the fourth quarter worth $40,000. Newbridge Financial Services Group Inc. bought a new position in shares of Marvell Technology in the fourth quarter valued at about $663,000. Finally, Kestra Private Wealth Services LLC raised its position in shares of Marvell Technology by 105.9% in the fourth quarter. Kestra Private Wealth Services LLC now owns 18,082 shares of the semiconductor company’s stock valued at $1,997,000 after purchasing an additional 9,300 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

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.