Marvell Technology (NASDAQ:MRVL) Trading 2.8% Higher – Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL) shares were up 2.8% on Monday . The company traded as high as $82.94 and last traded at $82.05. Approximately 2,672,591 shares were traded during trading, a decline of 78% from the average daily volume of 12,333,642 shares. The stock had previously closed at $79.85.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MRVL. Needham & Company LLC restated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. StockNews.com cut Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday, October 18th. The Goldman Sachs Group raised their price target on Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Barclays upped their price objective on shares of Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $95.00 target price (up previously from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.62.

Marvell Technology Stock Down 1.8 %

The firm has a market capitalization of $70.83 billion, a price-to-earnings ratio of -73.32, a price-to-earnings-growth ratio of 3.17 and a beta of 1.45. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The business has a fifty day moving average price of $72.81 and a two-hundred day moving average price of $70.34.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the business posted $0.18 EPS. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities analysts expect that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.29%. Marvell Technology’s payout ratio is -21.24%.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the sale, the executive vice president now owns 109,244 shares in the company, valued at approximately $8,823,637.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total value of $100,125.00. Following the completion of the sale, the chief financial officer now owns 113,253 shares of the company’s stock, valued at approximately $7,559,637.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the transaction, the executive vice president now directly owns 109,244 shares in the company, valued at approximately $8,823,637.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 261,000 shares of company stock valued at $20,330,835 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Several large investors have recently bought and sold shares of MRVL. Salomon & Ludwin LLC acquired a new position in Marvell Technology during the first quarter worth about $31,000. Quarry LP acquired a new position in shares of Marvell Technology during the 2nd quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Marvell Technology in the second quarter valued at approximately $32,000. Whittier Trust Co. increased its holdings in shares of Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in Marvell Technology during the first quarter worth approximately $35,000. 83.51% of the stock is currently owned by hedge funds and other 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.