Marvell Technology (NASDAQ:MRVL) Trading 2.9% Higher – What’s Next?

Marvell Technology, Inc. (NASDAQ:MRVL) was up 2.9% during mid-day trading on Monday . The company traded as high as $107.02 and last traded at $106.51. Approximately 13,532,440 shares changed hands during trading, an increase of 4% from the average daily volume of 13,070,750 shares. The stock had previously closed at $103.50.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MRVL shares. JPMorgan Chase & Co. lifted their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. William Blair raised Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Cantor Fitzgerald lifted their price target on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Benchmark reaffirmed 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. Finally, Needham & Company LLC raised their target price on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Three 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Trading Up 2.9 %

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 company has a market cap of $92.16 billion, a price-to-earnings ratio of -62.65, a price-to-earnings-growth ratio of 1.77 and a beta of 1.40. The business’s fifty day moving average price is $113.94 and its 200 day moving average price is $90.79.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.23%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is presently -14.12%.

Insider Buying and Selling at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now owns 93,931 shares in the company, valued at $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,255 shares of company stock worth $3,692,880. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Hedge funds have recently added to or reduced their stakes in the business. True Wealth Design LLC lifted its position in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares during the period. ORG Partners LLC increased its stake 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 in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Marvell Technology during the fourth quarter valued at about $26,000. Rialto Wealth Management LLC bought a new position in shares of Marvell Technology during the 4th quarter worth about $27,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at about $33,000. 83.51% of the stock is currently 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.