Marvell Technology (NASDAQ:MRVL) Stock Price Up 5.1% – Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL) shares traded up 5.1% on Wednesday . The stock traded as high as $114.94 and last traded at $115.30. 4,176,773 shares traded hands during trading, a decline of 68% from the average session volume of 12,875,583 shares. The stock had previously closed at $109.69.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MRVL shares. Cantor Fitzgerald increased their price objective on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. KeyCorp increased their price objective on Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Barclays increased their price objective on Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Piper Sandler reissued an “overweight” rating and issued a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Finally, Susquehanna raised their price target on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. Three equities research 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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 simple moving average of $113.59 and a 200-day simple moving average of $88.68. The stock has a market cap of $95.72 billion, a P/E ratio of -65.07, a PEG ratio of 3.71 and a beta of 1.40.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given a $0.06 dividend. 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 is presently -14.12%.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the sale, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. Insiders have sold a total of 37,755 shares of company stock worth $4,361,430 over the last 90 days. Insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Marvell Technology by 13.7% in the third quarter. GAMMA Investing LLC now owns 7,333 shares of the semiconductor company’s stock worth $529,000 after acquiring an additional 882 shares during the period. Dynamic Advisor Solutions LLC lifted its stake in shares of Marvell Technology by 9.2% in the third quarter. Dynamic Advisor Solutions LLC now owns 4,973 shares of the semiconductor company’s stock worth $359,000 after acquiring an additional 418 shares during the period. Brookstone Capital Management acquired a new position in shares of Marvell Technology in the third quarter worth approximately $216,000. CWM LLC lifted its stake in shares of Marvell Technology by 17.6% in the third quarter. CWM LLC now owns 25,122 shares of the semiconductor company’s stock worth $1,812,000 after acquiring an additional 3,760 shares during the period. Finally, Wedmont Private Capital lifted its stake in Marvell Technology by 10.5% in the third quarter. Wedmont Private Capital now owns 9,381 shares of the semiconductor company’s stock valued at $692,000 after buying an additional 894 shares during the period. 83.51% of the stock is 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.