Marvell Technology (NASDAQ:MRVL) Trading 1% Higher - Still a Buy?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) shot up 1% on Tuesday . The stock traded as high as $107.75 and last traded at $107.56. 3,760,483 shares were traded during trading, a decline of 71% from the average session volume of 12,860,654 shares. The stock had previously closed at $106.51.

Wall Street Analyst Weigh In

MRVL has been the topic of a number of analyst reports. The Goldman Sachs Group upped their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a "buy" rating in a report on Friday, January 10th. Craig Hallum upped their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a report on Monday, January 6th. JPMorgan Chase & Co. upped their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of Marvell Technology from a "sell" rating to a "hold" rating in a report on Thursday, January 9th. Finally, Stifel Nicolaus upped their target price on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $127.60.

Marvell Technology Stock Performance

The company's fifty day moving average is $113.93 and its 200 day moving average is $91.69. The company has a market capitalization of $89.86 billion, a P/E ratio of -61.09, a P/E/G ratio of 1.64 and a beta of 1.40. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.23%. The ex-dividend date was Friday, January 10th. Marvell Technology's dividend payout ratio is presently -14.12%.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of the firm's stock in a transaction 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 sale, 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 have sold 36,255 shares of company stock worth $4,330,980 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Marvell Technology

Institutional investors and hedge funds have recently made changes to their positions in the stock. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology during the 4th quarter valued at $26,000. ORG Partners LLC raised its holdings in 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 buying an additional 149 shares during the last quarter. Rialto Wealth Management LLC purchased a new position in Marvell Technology in the fourth quarter worth about $27,000. Kieckhefer Group LLC purchased a new position in shares of Marvell Technology during the fourth quarter valued at approximately $33,000. Finally, Financial Life Planners purchased a new position in shares of Marvell Technology during the fourth quarter valued at approximately $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.