Marvell Technology (NASDAQ:MRVL) Trading 0.4% Higher - What's Next?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report)'s stock price was up 0.4% during trading on Thursday . The company traded as high as $106.77 and last traded at $105.88. Approximately 3,088,887 shares changed hands during trading, a decline of 76% from the average daily volume of 12,817,765 shares. The stock had previously closed at $105.42.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MRVL shares. Melius started coverage on shares of Marvell Technology in a research note on Monday, January 27th. They issued a "buy" rating and a $188.00 target price on the stock. Piper Sandler reiterated an "overweight" rating and issued a $120.00 price objective (up from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Susquehanna raised their target price on Marvell Technology from $110.00 to $125.00 and gave the stock a "positive" rating in a research 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 on the stock in a research report on Tuesday, January 28th. Finally, Benchmark reissued a "buy" rating and set a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $127.60.

Marvell Technology Stock Performance

The firm's 50-day moving average price is $113.93 and its 200 day moving average price is $91.10. The company has a market cap of $92.84 billion, a price-to-earnings ratio of -63.11, a PEG ratio of 1.77 and a beta of 1.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. The ex-dividend date was Friday, January 10th. Marvell Technology's payout ratio is -14.12%.

Insider Activity

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the company's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the sale, the executive vice president now owns 93,931 shares in the company, valued at approximately $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,255 shares of company stock valued at $3,692,880 in the last 90 days. 0.33% of the stock is owned by company insiders.

Institutional Trading of Marvell Technology

Hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC raised its position in shares of Marvell Technology by 125.4% during the third quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 336 shares during the period. Creative Planning increased its stake in Marvell Technology by 37.5% during the 3rd quarter. Creative Planning now owns 103,740 shares of the semiconductor company's stock worth $7,482,000 after purchasing an additional 28,286 shares in the last quarter. Swedbank AB raised its holdings in Marvell Technology by 1.0% during the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company's stock worth $170,037,000 after buying an additional 23,680 shares during the period. Bleakley Financial Group LLC lifted its stake in Marvell Technology by 11.6% in the third quarter. Bleakley Financial Group LLC now owns 13,714 shares of the semiconductor company's stock valued at $989,000 after buying an additional 1,423 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Marvell Technology by 19.6% in the third quarter. Blue Trust Inc. now owns 7,102 shares of the semiconductor company's stock valued at $496,000 after buying an additional 1,164 shares during the period. Institutional investors and hedge funds 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.