Marvell Technology (NASDAQ:MRVL) Shares Up 0.3% - Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) shares rose 0.3% on Friday . The company traded as high as $58.35 and last traded at $57.50. Approximately 3,218,291 shares were traded during trading, a decline of 81% from the average daily volume of 17,292,242 shares. The stock had previously closed at $57.33.

Analyst Ratings Changes

A number of brokerages have commented on MRVL. TD Cowen cut their price target on shares of Marvell Technology from $125.00 to $95.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Citigroup decreased their target price on Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, April 11th. The Goldman Sachs Group upped their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the company a "buy" rating in a report on Friday, January 10th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Marvell Technology in a report on Thursday, March 6th. Finally, Piper Sandler reduced their price objective on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $114.56.

Marvell Technology Trading Down 0.0 %

The business's 50 day moving average price is $67.49 and its two-hundred day moving average price is $90.73. The company has a market capitalization of $50.82 billion, a price-to-earnings ratio of -34.52, a P/E/G ratio of 1.61 and a beta of 1.78. 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 disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is -23.53%.

Insiders Place Their Bets

In other news, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the sale, the chief accounting officer now owns 31,100 shares of the company's stock, valued at approximately $2,138,125. This represents a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Casper sold 12,460 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. Insiders sold a total of 27,390 shares of company stock valued at $1,937,938 in the last 90 days. Corporate insiders own 0.33% of the company's stock.

Institutional Trading of Marvell Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRVL. Invesco Ltd. increased its position in shares of Marvell Technology by 30.1% during the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock worth $1,784,649,000 after buying an additional 3,737,705 shares during the period. Janus Henderson Group PLC grew its holdings in Marvell Technology by 6.9% during the 4th quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company's stock worth $1,462,274,000 after acquiring an additional 857,087 shares during the period. Wellington Management Group LLP raised its position in shares of Marvell Technology by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock worth $1,374,252,000 after acquiring an additional 3,747,982 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Marvell Technology by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company's stock valued at $1,263,755,000 after purchasing an additional 80,005 shares during the period. Finally, Norges Bank bought a new stake in shares of Marvell Technology during the 4th quarter valued at about $1,138,354,000. 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.