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

Marvell Technology, Inc. (NASDAQ:MRVL)’s stock price shot up 2.4% on Thursday . The stock traded as high as $112.00 and last traded at $109.39. 5,108,123 shares traded hands during trading, a decline of 60% from the average session volume of 12,702,107 shares. The stock had previously closed at $106.79.

Analyst Ratings Changes

MRVL has been the subject of several analyst reports. Needham & Company LLC boosted their target price on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group upped their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Oppenheimer raised their target price on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Melius Research raised Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Finally, Benchmark reissued a “buy” rating and issued a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Stock Performance

The firm has a fifty day moving average of $111.72 and a 200 day moving average of $87.43. The stock has a market cap of $97.66 billion, a price-to-earnings ratio of -66.39, a PEG ratio of 3.51 and a beta of 1.41. 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 business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Insider Activity

In related news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the transaction, the executive vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the sale, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MRVL. True Wealth Design LLC lifted its holdings in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares during the last quarter. ORG Partners LLC raised its position in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares during the period. Quarry LP acquired a new position in Marvell Technology during the second quarter worth $32,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Marvell Technology during the second quarter worth $32,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Marvell Technology in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

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.