Marvell Technology (NASDAQ:MRVL) Trading Up 2.9% – Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL)’s stock price rose 2.9% during trading on Monday . The stock traded as high as $107.02 and last traded at $106.51. Approximately 13,532,440 shares were traded during mid-day trading, an increase of 4% from the average daily volume of 13,070,750 shares. The stock had previously closed at $103.50.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MRVL. Citigroup lifted their price target on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group upped their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Benchmark reissued a “buy” rating and set a $135.00 price objective (up previously from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $120.00 target price (up from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their price target on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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 stock has a 50-day moving average price of $113.93 and a 200 day moving average price of $91.10. The firm has a market cap of $96.08 billion, a PE ratio of -65.32, a P/E/G ratio of 1.58 and a beta of 1.40.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the sale, the chief financial officer now owns 111,211 shares of the company’s stock, valued at $13,159,597.63. This represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the transaction, the executive vice president now owns 97,244 shares in the company, valued at $11,912,390. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,255 shares of company stock worth $3,692,880 in the last three months. 0.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its position in Marvell Technology by 0.3% in the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after acquiring an additional 68,893 shares in the last quarter. Invesco Ltd. grew its holdings in Marvell Technology by 30.1% during the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock valued at $1,784,649,000 after purchasing an additional 3,737,705 shares in the last quarter. Janus Henderson Group PLC increased its stake in Marvell Technology by 6.9% during the 4th quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company’s stock worth $1,462,274,000 after buying an additional 857,087 shares during the period. Wellington Management Group LLP lifted its holdings in Marvell Technology by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock worth $1,374,252,000 after buying an additional 3,747,982 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Marvell Technology by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock valued at $1,263,755,000 after buying an additional 80,005 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

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.