Marvell Technology (NASDAQ:MRVL) Shares Up 3.4% – Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL) was up 3.4% on Thursday . The stock traded as high as $110.38 and last traded at $108.82. Approximately 7,351,373 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 12,602,374 shares. The stock had previously closed at $105.28.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of research reports. Craig Hallum lifted their price target on Marvell Technology from $88.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. TD Cowen lifted their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group boosted their price objective on Marvell Technology from $87.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Barclays boosted their price target on shares of Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Susquehanna upped their target price on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus target price of $119.04.

Marvell Technology Stock Up 3.9 %

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm’s 50-day moving average price is $92.44 and its two-hundred day moving average price is $77.65. The firm has a market cap of $94.61 billion, a PE ratio of -64.32, a P/E/G ratio of 3.72 and a beta of 1.46.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Insider Activity at Marvell Technology

In other news, EVP Mark Casper sold 2,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total transaction of $177,075.00. Following the completion of the sale, the executive vice president now owns 22,494 shares in the company, valued at approximately $1,593,250.02. This represents a 10.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $120,750.00. Following the sale, the chief financial officer now directly owns 110,253 shares of the company’s stock, valued at approximately $8,875,366.50. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 175,000 shares of company stock valued at $14,444,745 in the last three months. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Marvell Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. increased its position in Marvell Technology by 24.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after purchasing an additional 2,254,610 shares during the period. Temasek Holdings Private Ltd grew its holdings 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 acquiring an additional 1,911,532 shares during the period. Holocene Advisors LP purchased a new position in Marvell Technology in the third quarter worth $120,116,000. Van ECK Associates Corp raised its position in Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after acquiring an additional 1,570,050 shares in the last quarter. Finally, D1 Capital Partners L.P. acquired a new stake in Marvell Technology in the second quarter valued at $108,204,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

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.