Marvell Technology (NASDAQ:MRVL) Trading Up 2.4% – Should You Buy?

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

Analysts Set New Price Targets

MRVL has been the subject of a number of research analyst reports. TD Cowen upped their price objective on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Cantor Fitzgerald boosted their price objective on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Bank of America increased their target price on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Evercore ISI boosted their price target on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Finally, Oppenheimer boosted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Stock Up 3.3 %

The company has a market cap of $95.47 billion, a P/E ratio of -64.90, a P/E/G ratio of 4.12 and a beta of 1.41. The company’s 50-day moving average is $111.31 and its two-hundred day moving average is $87.15. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Insiders Place Their Bets

In related news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the transaction, the executive vice president now owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was 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 $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is owned by insiders.

Institutional Trading of Marvell Technology

Hedge funds have recently bought and sold shares of the stock. Csenge Advisory Group grew its stake in shares of Marvell Technology by 15.9% during the 4th quarter. Csenge Advisory Group now owns 3,893 shares of the semiconductor company’s stock valued at $430,000 after acquiring an additional 535 shares during the period. WD Rutherford LLC increased its stake in shares of Marvell Technology by 37.7% in the fourth quarter. WD Rutherford LLC now owns 25,158 shares of the semiconductor company’s stock worth $2,779,000 after purchasing an additional 6,892 shares in the last quarter. Allworth Financial LP raised its position in shares of Marvell Technology by 12.1% during the 4th quarter. Allworth Financial LP now owns 4,560 shares of the semiconductor company’s stock valued at $504,000 after purchasing an additional 494 shares during the period. Quantum Private Wealth LLC lifted its stake in shares of Marvell Technology by 1.1% during the 4th quarter. Quantum Private Wealth LLC now owns 33,833 shares of the semiconductor company’s stock valued at $3,737,000 after buying an additional 357 shares in the last quarter. Finally, Everhart Financial Group Inc. bought a new position in Marvell Technology in the 4th quarter worth $437,000. Institutional investors 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.