Marvell Technology (NASDAQ:MRVL) Trading 7.4% Higher - What's Next?

Shares of Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) rose 7.4% during mid-day trading on Tuesday . The company traded as high as $56.25 and last traded at $54.79. Approximately 8,781,226 shares traded hands during trading, a decline of 33% from the average daily volume of 13,133,787 shares. The stock had previously closed at $51.00.

Wall Street Analyst Weigh In

MRVL has been the topic of a number of research reports. Stifel Nicolaus lowered their target price on Marvell Technology from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Piper Sandler dropped their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. TD Cowen reduced their price objective on shares of Marvell Technology from $125.00 to $95.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Roth Capital set a $100.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Finally, Morgan Stanley cut their price target on Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating for the company in a research note on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $119.48.

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Marvell Technology Stock Performance

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 company has a 50 day simple moving average of $79.86 and a 200-day simple moving average of $92.05. The stock has a market capitalization of $46.24 billion, a P/E ratio of -31.41, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology's dividend payout ratio is currently -23.53%.

Insiders Place Their Bets

In related news, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the sale, the chief accounting officer now owns 31,100 shares of the company's stock, valued at approximately $2,138,125. This represents a 4.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. Insiders sold 30,185 shares of company stock worth $3,131,018 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MRVL. ORG Partners LLC raised its position in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after buying an additional 149 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Marvell Technology during the fourth quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new stake in Marvell Technology during the fourth quarter valued at about $27,000. Kieckhefer Group LLC bought a new stake in Marvell Technology during the fourth quarter worth about $33,000. Finally, Financial Life Planners purchased a new position in shares of Marvell Technology in the 4th quarter worth about $33,000. 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.