Marvell Technology (NASDAQ:MRVL) Stock Price Up 1.7% – Time to Buy?

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) rose 1.7% during trading on Thursday . The company traded as high as $118.41 and last traded at $118.23. Approximately 8,362,899 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 11,032,892 shares. The stock had previously closed at $116.23.

Analyst Ratings Changes

MRVL has been the subject of a number of recent research reports. TD Cowen increased their price objective on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. KeyCorp increased their price target on shares of Marvell Technology from $95.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Barclays increased their price target on shares of Marvell Technology from $85.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Citigroup increased their price target on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Loop Capital increased their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.28.

Marvell Technology Trading Down 3.3 %

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 company has a market capitalization of $98.92 billion, a price-to-earnings ratio of -67.25, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. The business’s 50 day simple moving average is $103.34 and its 200 day simple moving average is $82.45.

Marvell Technology Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Insider Transactions at Marvell Technology

In other news, CEO Matthew J. Murphy purchased 13,000 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were acquired at an average cost of $77.63 per share, for a total transaction of $1,009,190.00. Following the completion of the purchase, the chief executive officer now directly owns 221,915 shares in the company, valued at $17,227,261.45. The trade was a 6.22 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $120,750.00. Following the transaction, the chief financial officer now owns 110,253 shares in the company, valued at $8,875,366.50. The trade was a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 180,000 shares of company stock worth $15,163,420 over the last ninety days. 0.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MRVL. Quest Partners LLC grew its position in Marvell Technology by 1,181.8% during the second quarter. Quest Partners LLC now owns 1,128 shares of the semiconductor company’s stock worth $79,000 after buying an additional 1,040 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Marvell Technology in the second quarter valued at about $76,000. Wedbush Securities Inc. lifted its holdings in shares of Marvell Technology by 26.3% in the second quarter. Wedbush Securities Inc. now owns 7,970 shares of the semiconductor company’s stock valued at $557,000 after purchasing an additional 1,661 shares in the last quarter. Choreo LLC purchased a new stake in shares of Marvell Technology in the second quarter valued at about $1,034,000. Finally, LPL Financial LLC lifted its holdings in shares of Marvell Technology by 21.2% in the second quarter. LPL Financial LLC now owns 493,524 shares of the semiconductor company’s stock valued at $34,497,000 after purchasing an additional 86,419 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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.