Marvell Technology (NASDAQ:MRVL) Trading Up 1% – Time to Buy?

Marvell Technology, Inc. (NASDAQ:MRVL) shares traded up 1% on Tuesday . The company traded as high as $115.95 and last traded at $114.88. 2,299,555 shares were traded during trading, a decline of 82% from the average session volume of 12,667,961 shares. The stock had previously closed at $113.76.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MRVL shares. B. Riley lifted their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Monday, December 2nd. Evercore ISI raised their price objective on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Rosenblatt Securities upped their target price on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Benchmark restated a “buy” rating and issued a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $119.76.

Marvell Technology Stock Up 1.9 %

The stock has a market capitalization of $100.33 billion, a price-to-earnings ratio of -68.21, a price-to-earnings-growth ratio of 4.03 and a beta of 1.46. 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 stock has a 50 day moving average price of $94.65 and a 200 day moving average price of $78.64.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.21%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Insider Buying and Selling at Marvell Technology

In other news, CEO Matthew J. Murphy acquired 13,000 shares of Marvell Technology stock in a transaction dated Monday, October 14th. The shares were bought at an average cost of $77.63 per share, with a total value of $1,009,190.00. Following the purchase, the chief executive officer now owns 221,915 shares in the company, valued at $17,227,261.45. This trade represents a 6.22 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total transaction of $177,075.00. Following the transaction, the executive vice president now directly owns 22,494 shares of the company’s stock, valued at $1,593,250.02. This represents a 10.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 175,000 shares of company stock worth $14,444,745. 0.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp raised its stake in Marvell Technology by 0.3% during the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after buying an additional 68,893 shares during the period. Ameriprise Financial Inc. grew its stake in Marvell Technology by 24.1% in the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after acquiring an additional 2,254,610 shares during the period. Geode Capital Management LLC increased its holdings in shares of Marvell Technology by 2.0% during the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock valued at $818,916,000 after acquiring an additional 219,692 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Marvell Technology by 4.3% during the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock worth $627,034,000 after purchasing an additional 359,005 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Marvell Technology by 26.6% in the 3rd 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 in the last quarter. 83.51% of the stock is owned by 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.