Marvell Technology (NASDAQ:MRVL) Trading 3.8% Higher - Still a Buy?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report)'s stock price was up 3.8% during mid-day trading on Wednesday . The company traded as high as $112.50 and last traded at $111.34. Approximately 4,341,984 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 12,772,446 shares. The stock had previously closed at $107.29.

Analysts Set New Price Targets

MRVL has been the subject of a number of analyst reports. KeyCorp raised their price target on Marvell Technology from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Evercore ISI increased their target price on Marvell Technology from $98.00 to $122.00 and gave the company an "outperform" rating in a research note on Monday, December 2nd. Oppenheimer lifted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Benchmark restated a "buy" rating and set a $135.00 price target (up from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Finally, Needham & Company LLC boosted their price target on Marvell Technology from $95.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Three equities research 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, Marvell Technology currently has an average rating of "Moderate Buy" and a consensus target price of $127.60.

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 business has a 50 day moving average price of $113.93 and a 200 day moving average price of $91.69. The stock has a market capitalization of $89.94 billion, a PE ratio of -61.28, a PEG ratio of 1.64 and a beta of 1.40.

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 issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Friday, January 10th. Marvell Technology's payout ratio is -14.12%.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the transaction, the chief operating officer now owns 87,931 shares in the company, valued at approximately $9,351,461.85. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock worth $4,330,980 over the last quarter. 0.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Marvell Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. True Wealth Design LLC increased its holdings in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock valued at $25,000 after buying an additional 326 shares during the last quarter. ORG Partners LLC increased its stake in shares of Marvell Technology by 175.3% in the 4th 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 Marvell Technology in the 4th quarter worth $26,000. Rialto Wealth Management LLC purchased a new position in Marvell Technology during the fourth quarter valued at $27,000. Finally, Kieckhefer Group LLC bought a new stake in Marvell Technology during the fourth quarter valued at about $33,000. Hedge funds and other 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.