Marvell Technology (NASDAQ:MRVL) Trading Up 1% – Still a Buy?

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price shot up 1% during trading on Tuesday . The company traded as high as $115.95 and last traded at $114.88. 2,299,555 shares were traded during mid-day trading, a decline of 82% from the average session volume of 12,667,961 shares. The stock had previously closed at $113.76.

Analyst Ratings Changes

MRVL has been the subject of a number of research reports. KeyCorp raised their target price on Marvell Technology from $95.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Stifel Nicolaus restated a “buy” rating and issued a $125.00 price objective (up previously from $114.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Oppenheimer upped their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Susquehanna raised their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. Finally, Barclays upped their price objective on Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.76.

Marvell Technology Stock Performance

The stock has a market cap of $100.33 billion, a P/E ratio of -68.21, a price-to-earnings-growth ratio of 4.03 and a beta of 1.46. 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’s 50 day simple moving average is $94.65 and its two-hundred day simple moving average is $78.64.

Marvell Technology Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 0.21%. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insider Buying and Selling

In other Marvell Technology news, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the sale, the insider now directly owns 694,487 shares of the company’s stock, valued at $55,906,203.50. The trade was a 17.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total value of $177,075.00. Following the completion of the transaction, the executive vice president now owns 22,494 shares of the company’s stock, valued at $1,593,250.02. The trade was a 10.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 175,000 shares of company stock valued at $14,444,745. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. State Street Corp boosted its stake in shares of Marvell Technology by 0.3% during the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after acquiring an additional 68,893 shares during the period. Ameriprise Financial Inc. lifted its holdings in Marvell Technology by 24.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after purchasing an additional 2,254,610 shares during the last quarter. Geode Capital Management LLC boosted its position in Marvell Technology by 2.0% during the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock worth $818,916,000 after purchasing an additional 219,692 shares during the period. Wellington Management Group LLP increased its holdings in shares of Marvell Technology by 4.3% in the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after purchasing an additional 359,005 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after purchasing an additional 1,570,050 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

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.