Marvell Technology (NASDAQ:MRVL) Shares Up 0.1% – Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL)’s stock price rose 0.1% during mid-day trading on Wednesday . The stock traded as high as $105.36 and last traded at $103.94. Approximately 4,871,348 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 12,529,674 shares. The stock had previously closed at $103.88.

Analysts Set New Price Targets

Several analysts recently commented on MRVL shares. Bank of America raised their price objective on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. B. Riley raised their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. KeyCorp raised their price objective on Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Barclays raised their price objective on Marvell Technology from $115.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, UBS Group raised their price objective on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Stock Up 2.2 %

The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average of $110.63 and a 200-day moving average of $86.85. The firm has a market cap of $91.84 billion, a P/E ratio of -62.53, a price-to-earnings-growth ratio of 4.12 and a beta of 1.41.

Marvell Technology Dividend Announcement

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 annualized dividend and a yield of 0.23%. Marvell Technology’s dividend payout ratio is -14.12%.

Insider Buying and Selling at Marvell Technology

In other 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 owns 103,244 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Casper sold 7,755 shares of the company’s stock in a transaction that occurred on 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 37,755 shares of company stock worth $4,361,430 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

A number of large investors have recently added to or reduced their stakes in MRVL. Temasek Holdings Private Ltd grew its position in Marvell Technology by 581.8% during the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after buying an additional 1,911,532 shares in the last quarter. Holocene Advisors LP bought a new stake in Marvell Technology during the third quarter worth $120,116,000. Van ECK Associates Corp lifted its stake in Marvell Technology by 26.6% during the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after purchasing an additional 1,570,050 shares during the last quarter. Perpetual Ltd lifted its stake in Marvell Technology by 3,405.3% during the fourth quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after purchasing an additional 682,457 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in Marvell Technology by 14.0% during the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after purchasing an additional 571,005 shares during the last quarter. Institutional investors and hedge funds 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.