Marvell Technology (NASDAQ:MRVL) Trading Up 2.6% – Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL)’s stock price rose 2.6% during trading on Friday . The company traded as high as $117.80 and last traded at $116.48. Approximately 3,686,577 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 6,182,153 shares. The stock had previously closed at $113.56.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MRVL. Piper Sandler reaffirmed an “overweight” rating and set a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Benchmark reaffirmed a “buy” rating and set a $135.00 price target (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. StockNews.com downgraded Marvell Technology from a “hold” rating to a “sell” rating in a research report on Wednesday. KeyCorp increased their target price on Marvell Technology from $95.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Susquehanna lifted their price target on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $119.76.

Marvell Technology Stock Up 4.1 %

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 stock has a market cap of $102.26 billion, a price-to-earnings ratio of -69.52, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. The firm has a 50 day simple moving average of $100.53 and a two-hundred day simple moving average of $81.26.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.20%. Marvell Technology’s dividend payout ratio is -14.12%.

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the sale, the executive vice president now owns 97,244 shares of the company’s stock, valued at $11,912,390. This trade represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew J. Murphy acquired 13,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was acquired at an average price of $77.63 per share, with a total value of $1,009,190.00. Following the completion of the transaction, the chief executive officer now directly owns 221,915 shares in the company, valued at $17,227,261.45. This trade represents a 6.22 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 172,500 shares of company stock worth $14,267,670. 0.33% of the stock is currently owned by company insiders.

Institutional Trading of Marvell Technology

Several hedge funds have recently bought and sold shares of the stock. Citizens Financial Group Inc. RI increased its position in shares of Marvell Technology by 1.5% during the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after acquiring an additional 116 shares in the last quarter. Crumly & Associates Inc. boosted its stake in Marvell Technology by 1.5% in the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock worth $593,000 after purchasing an additional 121 shares during the period. United Capital Management of KS Inc. increased its holdings in Marvell Technology by 0.4% during the 3rd quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock worth $2,470,000 after purchasing an additional 131 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of Marvell Technology by 1.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock valued at $716,000 after purchasing an additional 139 shares during the period. Finally, ASB Consultores LLC lifted its holdings in shares of Marvell Technology by 3.8% in the third quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock valued at $276,000 after purchasing an additional 140 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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.