Marvell Technology (NASDAQ:MRVL) Stock Price Up 1.6% - Still a Buy?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report)'s stock price rose 1.6% during trading on Thursday . The company traded as high as $71.70 and last traded at $71.99. Approximately 3,771,184 shares were traded during trading, a decline of 76% from the average daily volume of 15,844,726 shares. The stock had previously closed at $70.85.

Analyst Upgrades and Downgrades

MRVL has been the topic of a number of research analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $124.00 target price on shares of Marvell Technology in a report on Wednesday, June 18th. UBS Group reaffirmed a "buy" rating on shares of Marvell Technology in a report on Monday, June 2nd. Wells Fargo & Company reduced their target price on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. Piper Sandler reaffirmed an "overweight" rating and set a $85.00 target price (down previously from $95.00) on shares of Marvell Technology in a report on Friday, May 30th. Finally, Needham & Company LLC cut Marvell Technology from a "buy" rating to a "cautious" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $94.47.

Marvell Technology Trading Up 1.6%

The company has a fifty day simple moving average of $68.52 and a two-hundred day simple moving average of $79.65. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94. The company has a market capitalization of $62.20 billion, a P/E ratio of -126.33, a price-to-earnings-growth ratio of 0.78 and a beta of 1.81.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The firm's revenue for the quarter was up 63.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 earnings per share. On average, analysts forecast that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a $0.24 annualized dividend and a yield of 0.33%. Marvell Technology's dividend payout ratio is -42.11%.

Insider Transactions at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $65.10, for a total value of $390,600.00. Following the sale, the chief operating officer directly owned 92,065 shares in the company, valued at $5,993,431.50. The trade was a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,394 shares of company stock valued at $1,656,076. 0.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in Marvell Technology during the 4th quarter worth $234,000. Dynamic Advisor Solutions LLC lifted its holdings in Marvell Technology by 5.0% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company's stock worth $266,000 after buying an additional 206 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Marvell Technology during the 4th quarter worth $45,211,000. Yousif Capital Management LLC lifted its holdings in Marvell Technology by 8.4% during the 1st quarter. Yousif Capital Management LLC now owns 15,057 shares of the semiconductor company's stock worth $927,000 after buying an additional 1,164 shares in the last quarter. Finally, Tree Line Advisors Hong Kong Ltd. acquired a new position in Marvell Technology during the 4th quarter worth $46,389,000. 83.51% of the stock is owned by institutional investors and hedge funds.

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.

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