Marvell Technology (NASDAQ:MRVL) Stock Price Up 1.4% – Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL) shares shot up 1.4% during mid-day trading on Wednesday . The stock traded as high as $51.71 and last traded at $50.72. 5,161,550 shares traded hands during trading, a decline of 61% from the average session volume of 13,238,904 shares. The stock had previously closed at $50.03.

Analyst Upgrades and Downgrades

Several analysts have commented on MRVL shares. Raymond James set a $110.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Morgan Stanley dropped their target price on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Needham & Company LLC reduced their target price on Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Loop Capital upgraded Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Thursday, March 6th. Finally, Benchmark reiterated a “buy” rating and set a $135.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Trading Up 2.6 %

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 firm has a market cap of $44.45 billion, a P/E ratio of -30.12, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. The business’s 50 day moving average is $84.23 and its 200-day moving average is $92.60.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.47%. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Insider Buying and Selling

In other news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the transaction, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the sale, the chief accounting officer now owns 31,100 shares in the company, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,185 shares of company stock worth $3,131,018. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in Marvell Technology during the 4th quarter valued at approximately $1,138,354,000. GQG Partners LLC acquired a new position in shares of Marvell Technology during the fourth quarter valued at $802,410,000. Nuveen Asset Management LLC grew its position in shares of Marvell Technology by 232.2% during the fourth quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company’s stock worth $1,033,859,000 after acquiring an additional 6,543,132 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Marvell Technology by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock worth $1,374,252,000 after acquiring an additional 3,747,982 shares during the period. Finally, Invesco Ltd. lifted its position in Marvell Technology by 30.1% in the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock valued at $1,784,649,000 after purchasing an additional 3,737,705 shares during 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.