Marvell Technology (NASDAQ:MRVL) Trading 4.4% Higher – Time to Buy?

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price traded up 4.4% on Friday . The company traded as high as $92.08 and last traded at $91.49. 7,140,850 shares changed hands during trading, a decline of 47% from the average session volume of 13,407,269 shares. The stock had previously closed at $87.65.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MRVL shares. Melius started coverage on Marvell Technology in a research report on Monday, January 27th. They issued a “buy” rating and a $188.00 target price on the stock. William Blair raised Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Rosenblatt Securities increased 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. Wells Fargo & Company boosted their price target on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $120.00 price target (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Price Performance

The stock’s 50 day moving average price is $111.63 and its 200-day moving average price is $93.39. 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 market capitalization of $79.45 billion, a PE ratio of -54.01, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total transaction of $177,495.00. Following the transaction, the chief financial officer now owns 111,211 shares of the company’s stock, valued at approximately $13,159,597.63. This represents a 1.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the completion of the transaction, the chief operating officer now directly owns 87,931 shares in the company, valued at approximately $9,351,461.85. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Marvell Technology

Several institutional investors and hedge funds have recently bought and sold shares of MRVL. Zweig DiMenna Associates LLC grew its stake in Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after buying an additional 12,700 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in Marvell Technology in the fourth quarter worth about $637,000. RFG Advisory LLC increased its holdings in shares of Marvell Technology by 6.2% during the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after acquiring an additional 2,507 shares in the last quarter. Braun Stacey Associates Inc. purchased a new position in shares of Marvell Technology in the 3rd quarter valued at approximately $16,435,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Marvell Technology by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after purchasing an additional 66,654 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other 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.