Marvell Technology (NASDAQ:MRVL) Trading Up 1% - Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) shares traded up 1% on Thursday . The stock traded as high as $75.32 and last traded at $75.03. 4,927,712 shares changed hands during trading, a decline of 68% from the average session volume of 15,590,729 shares. The stock had previously closed at $74.25.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Melius Research upped their target price on shares of Marvell Technology from $67.00 to $76.00 and gave the stock a "hold" rating in a research report on Wednesday, June 18th. KeyCorp lowered their target price on shares of Marvell Technology from $115.00 to $90.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Citigroup lowered their target price on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Raymond James Financial reiterated an "outperform" rating and issued a $90.00 price target (down from $110.00) on shares of Marvell Technology in a research report on Friday, May 30th. Finally, Loop Capital lowered their price target on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Six equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Marvell Technology currently has a consensus rating of "Moderate Buy" and an average price target of $96.33.

Marvell Technology Trading Up 1.2%

The business has a 50-day moving average of $66.54 and a 200-day moving average of $81.88. The stock has a market cap of $64.92 billion, a price-to-earnings ratio of -131.84, a PEG ratio of 0.81 and a beta of 1.81. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 0.22.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the company posted $0.24 earnings per share. The company's revenue for the quarter was up 63.3% compared to the same quarter last year. As a group, research analysts forecast that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.32%. Marvell Technology's payout ratio is -42.11%.

Insider Activity at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $68.52, for a total value of $102,780.00. Following the sale, the chief financial officer owned 121,348 shares in the company, valued at approximately $8,314,764.96. The trade was a 1.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Casper sold 626 shares of Marvell Technology stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $61.10, for a total value of $38,248.60. Following the completion of the transaction, the executive vice president directly owned 626 shares of the company's stock, valued at $38,248.60. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,394 shares of company stock worth $1,656,076. Insiders own 0.19% of the company's stock.

Hedge Funds Weigh In On Marvell Technology

Institutional investors have recently modified their holdings of the stock. Rialto Wealth Management LLC acquired a new position in Marvell Technology during the 4th quarter worth approximately $27,000. Lee Danner & Bass Inc. bought a new position in Marvell Technology during the 4th quarter worth $35,000. Capital Analysts LLC increased its position in Marvell Technology by 236.3% during the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock worth $38,000 after buying an additional 241 shares during the period. Chelsea Counsel Co. bought a new position in Marvell Technology during the 4th quarter worth $44,000. Finally, Bernard Wealth Management Corp. bought a new position in Marvell Technology during the 4th quarter worth $45,000. 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.