Marvell Technology (NASDAQ:MRVL) Stock Price Up 3.1% – Still a Buy?

Marvell Technology, Inc. (NASDAQ:MRVL) shares traded up 3.1% during trading on Thursday . The stock traded as high as $114.99 and last traded at $113.86. 3,378,278 shares traded hands during trading, a decline of 73% from the average session volume of 12,575,554 shares. The stock had previously closed at $110.45.

Analyst Ratings Changes

MRVL has been the subject of a number of research analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $125.00 target price (up previously from $114.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Bank of America lifted their price objective on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. UBS Group upped their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Craig Hallum lifted their price target on shares of Marvell Technology from $88.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Benchmark restated a “buy” rating and set a $135.00 price objective (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target of $119.76.

Marvell Technology Price Performance

The firm has a 50-day moving average of $100.53 and a 200-day moving average of $81.20. The stock has a market cap of $102.26 billion, a PE ratio of -69.52, a PEG ratio of 4.03 and a beta of 1.41. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors 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 annualized dividend and a yield of 0.20%. Marvell Technology’s payout ratio is -14.12%.

Insiders Place Their Bets

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the transaction, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. This trade represents a 5.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Matthew J. Murphy bought 13,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were acquired at an average price of $77.63 per share, for a total transaction 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 approximately $17,227,261.45. This represents a 6.22 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 172,500 shares of company stock worth $14,267,670 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Marvell Technology

A number of institutional investors and hedge funds have recently modified their holdings of the stock. True Wealth Design LLC raised its position in Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares during the period. Quarry LP purchased a new stake in shares of Marvell Technology in the second quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Marvell Technology during the 2nd quarter worth approximately $32,000. Whittier Trust Co. boosted its holdings in Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 210 shares during the period. Finally, Goodman Advisory Group LLC bought a new position in Marvell Technology in the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

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.