Marvell Technology (NASDAQ:MRVL) Shares Up 1.5% - Still a Buy?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) shares rose 1.5% during trading on Friday . The stock traded as high as $104.43 and last traded at $105.04. Approximately 5,617,969 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 12,884,120 shares. The stock had previously closed at $103.50.

Analysts Set New Price Targets

MRVL has been the subject of several recent analyst reports. UBS Group lifted their price target on Marvell Technology from $110.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Susquehanna lifted their price target on Marvell Technology from $110.00 to $125.00 and gave the company a "positive" rating in a report on Wednesday, December 4th. Oppenheimer lifted their price target on Marvell Technology from $110.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Morgan Stanley lowered their price target on Marvell Technology from $120.00 to $113.00 and set an "equal weight" rating for the company in a report on Tuesday, January 28th. Finally, William Blair upgraded Marvell Technology to a "strong-buy" rating in a report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $127.60.

Marvell Technology Stock Performance

The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $92.16 billion, a price-to-earnings ratio of -62.65, a price-to-earnings-growth ratio of 1.77 and a beta of 1.40. The company has a 50-day moving average of $113.94 and a 200-day moving average of $90.79.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. Marvell Technology's payout ratio is currently -14.12%.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This represents a 1.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the company's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,255 shares of company stock worth $3,692,880 in the last three months. 0.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. True Wealth Design LLC grew its stake in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 326 shares in the last quarter. ORG Partners LLC grew its stake in shares of Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology in the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new position in shares of Marvell Technology in the fourth quarter worth $27,000. Finally, Kieckhefer Group LLC bought a new position in shares of Marvell Technology in the fourth quarter worth $33,000. 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.