Marvell Technology (NASDAQ:MRVL) Trading 0.6% Higher - Still a Buy?

Shares of Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) traded up 0.6% during mid-day trading on Wednesday . The stock traded as high as $61.85 and last traded at $61.82. 2,935,194 shares were traded during trading, a decline of 79% from the average session volume of 14,065,295 shares. The stock had previously closed at $61.42.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Barclays cut their price objective on shares of Marvell Technology from $130.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Stifel Nicolaus cut their price target on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $140.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Bank of America cut their price target on shares of Marvell Technology from $120.00 to $72.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Finally, Raymond James set a $110.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Marvell Technology presently has a consensus rating of "Moderate Buy" and an average target price of $110.69.

Marvell Technology Stock Down 0.5%

The company has a market cap of $52.77 billion, a PE ratio of -36.18, a PEG ratio of 1.61 and a beta of 1.83. The business's fifty day simple moving average is $60.07 and its two-hundred day simple moving average is $88.44. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.39%. Marvell Technology's dividend payout ratio is currently -23.53%.

Insider Activity at Marvell Technology

In other news, Director Brad W. Buss bought 3,000 shares of the firm's stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the acquisition, the director now directly owns 87,113 shares of the company's stock, valued at $6,010,797. This trade represents a 3.57% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark Casper sold 626 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $61.10, for a total transaction of $38,248.60. Following the completion of the transaction, the executive vice president now owns 626 shares in the company, valued at $38,248.60. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,541 shares of company stock valued at $2,079,948. Corporate insiders own 0.19% of the company's stock.

Hedge Funds Weigh In On Marvell Technology

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Marvell Technology by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 63,770,122 shares of the semiconductor company's stock worth $3,926,326,000 after acquiring an additional 1,212,338 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Marvell Technology by 32.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock worth $1,272,117,000 after acquiring an additional 5,050,159 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of Marvell Technology by 2.2% in the 1st quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company's stock worth $1,188,333,000 after acquiring an additional 423,892 shares during the last quarter. Invesco Ltd. lifted its holdings in Marvell Technology by 30.1% during the 4th 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 in the last quarter. Finally, Janus Henderson Group PLC lifted 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 buying an additional 857,087 shares in the last quarter. 83.51% of the stock is currently 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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