Marvell Technology (NASDAQ:MRVL) Shares Up 2.4% - Time to Buy?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) shot up 2.4% during mid-day trading on Tuesday . The stock traded as high as $68.84 and last traded at $67.24. 8,149,943 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 12,737,600 shares. The stock had previously closed at $65.67.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barclays reduced their target price on shares of Marvell Technology from $150.00 to $130.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. Raymond James set a $110.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Cantor Fitzgerald raised their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Roth Capital set a $100.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Finally, StockNews.com raised shares of Marvell Technology from a "sell" rating to a "hold" rating in a research report on Thursday, January 9th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.44.

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Marvell Technology Trading Up 4.0 %

The company has a market capitalization of $60.44 billion, a price-to-earnings ratio of -41.09, a P/E/G ratio of 1.61 and a beta of 1.42. 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 company's 50 day simple moving average is $106.49 and its two-hundred day simple moving average is $93.94.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders 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 annualized dividend and a dividend yield of 0.34%. Marvell Technology's payout ratio is currently -23.53%.

Insider Transactions at Marvell Technology

In related news, EVP Mark Casper sold 7,755 shares of the business'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 Securities & Exchange Commission, which is available through this link. Also, EVP Chris Koopmans sold 6,000 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the transaction, the executive vice president now owns 97,244 shares of the company's stock, valued at $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,255 shares of company stock worth $4,330,980. Company insiders own 0.33% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRVL. Swedbank AB lifted its position in Marvell Technology by 1.0% during the third quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company's stock valued at $170,037,000 after purchasing an additional 23,680 shares during the period. Impax Asset Management Group plc increased its holdings in Marvell Technology by 7.6% in the third quarter. Impax Asset Management Group plc now owns 574,996 shares of the semiconductor company's stock valued at $41,469,000 after buying an additional 40,796 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in Marvell Technology in the third quarter valued at $410,000. Assetmark Inc. increased its holdings in Marvell Technology by 16.9% in the third quarter. Assetmark Inc. now owns 39,197 shares of the semiconductor company's stock valued at $2,827,000 after buying an additional 5,657 shares in the last quarter. Finally, Atria Investments Inc increased its holdings in Marvell Technology by 22.0% in the third quarter. Atria Investments Inc now owns 45,167 shares of the semiconductor company's stock valued at $3,257,000 after buying an additional 8,160 shares in the last quarter. 83.51% of the stock is currently 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.