Marvell Technology (NASDAQ:MRVL) Stock Price Up 1.7% – Time to Buy?

Marvell Technology, Inc. (NASDAQ:MRVL) shares rose 1.7% during mid-day trading on Thursday . The stock traded as high as $118.41 and last traded at $118.23. Approximately 8,362,899 shares changed hands during trading, a decline of 24% from the average daily volume of 11,032,892 shares. The stock had previously closed at $116.23.

Analyst Upgrades and Downgrades

MRVL has been the topic of several recent analyst reports. Morgan Stanley upped their price objective on shares of Marvell Technology from $102.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. increased their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday. 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. Finally, Benchmark reaffirmed a “buy” rating and set a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a research note 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’s stock. Based on data from MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.28.

Marvell Technology Stock Performance

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 has a market capitalization of $98.92 billion, a price-to-earnings ratio of -67.25, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. The stock’s fifty day moving average is $103.34 and its two-hundred day moving average is $82.45.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insider Buying and Selling at Marvell Technology

In other news, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $122.65, for a total value of $613,250.00. Following the transaction, the director now directly owns 30,959 shares in the company, valued at approximately $3,797,121.35. This trade represents a 13.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the transaction, the insider now owns 694,487 shares in the company, valued at approximately $55,906,203.50. The trade was a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 180,000 shares of company stock worth $15,163,420 in the last ninety days. 0.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Citizens Financial Group Inc. RI lifted its position in shares of Marvell Technology by 1.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after buying an additional 116 shares during the last quarter. Crumly & Associates Inc. lifted its position in Marvell Technology by 1.5% in the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock valued at $593,000 after purchasing an additional 121 shares during the last quarter. United Capital Management of KS Inc. lifted its position in Marvell Technology by 0.4% in the 3rd quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after purchasing an additional 131 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in 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 last quarter. Finally, ASB Consultores LLC lifted its position in Marvell Technology by 3.8% in the 3rd 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 during the last quarter. 83.51% of the stock is currently 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.