Marvell Technology (NASDAQ:MRVL) Trading Up 3.3% – Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL)’s stock price shot up 3.3% during mid-day trading on Monday . The company traded as high as $55.02 and last traded at $51.08. 10,820,112 shares traded hands during trading, a decline of 17% from the average session volume of 13,100,032 shares. The stock had previously closed at $49.43.

Wall Street Analyst Weigh In

Several brokerages recently commented on MRVL. William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. TD Cowen lowered their price target on Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Melius Research raised Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Summit Insights lowered Marvell Technology from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Craig Hallum increased their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Stock Performance

The company has a market cap of $52.80 billion, a P/E ratio of -35.86, a P/E/G ratio of 1.61 and a beta of 1.78. 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 business has a fifty day simple moving average of $82.20 and a two-hundred day simple moving average of $92.30.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.39%. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Insiders Place Their Bets

In related news, EVP Mark Casper sold 7,755 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. 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 company’s stock in a transaction dated Monday, March 17th. The shares were 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 $2,138,125. This represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,185 shares of company stock worth $3,131,018 over the last three months. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Marvell Technology

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bourgeon Capital Management LLC lifted its stake in Marvell Technology by 30.8% in the first quarter. Bourgeon Capital Management LLC now owns 166,183 shares of the semiconductor company’s stock worth $10,232,000 after purchasing an additional 39,085 shares during the last quarter. RFG Advisory LLC lifted its position in shares of Marvell Technology by 4.2% in the 1st quarter. RFG Advisory LLC now owns 44,416 shares of the semiconductor company’s stock worth $2,735,000 after purchasing an additional 1,795 shares during the period. Merit Financial Group LLC boosted its position in Marvell Technology by 144.8% during the 1st quarter. Merit Financial Group LLC now owns 23,093 shares of the semiconductor company’s stock valued at $1,422,000 after acquiring an additional 13,661 shares in the last quarter. Harbor Investment Advisory LLC grew its stake in Marvell Technology by 77.9% in the first quarter. Harbor Investment Advisory LLC now owns 717 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 314 shares during the last quarter. Finally, NBC Securities Inc. grew its position in shares of Marvell Technology by 94,750.0% in the 1st quarter. NBC Securities Inc. now owns 1,897 shares of the semiconductor company’s stock worth $116,000 after buying an additional 1,895 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

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.