Marvell Technology (NASDAQ:MRVL) Trading Up 1.2% - Should You Buy?

Key Points

• Marvell Technology's stock increased by 1.2% to close at $75.09, with a significant decline in trading volume compared to its average.
• A total of twenty-two analysts have assigned a buy rating to Marvell Technology, reflecting positive sentiment as its average price target is set at $94.47.
• The company recently announced a quarterly dividend of $0.06 per share, translating to an annualized yield of 0.32%, with the ex-dividend date set for July 11th.

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) was up 1.2% on Monday . The stock traded as high as $76.59 and last traded at $75.09. Approximately 4,774,104 shares were traded during trading, a decline of 74% from the average daily volume of 18,548,275 shares. The stock had previously closed at $74.21.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MRVL shares. Wells Fargo & Company dropped their price objective on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. B. Riley reissued a "buy" rating and set a $115.00 price target (up from $110.00) on shares of Marvell Technology in a report on Wednesday, June 18th. Piper Sandler reaffirmed an "overweight" rating and set a $85.00 price objective (down previously from $95.00) on shares of Marvell Technology in a report on Friday, May 30th. The Goldman Sachs Group started coverage on Marvell Technology in a research note on Thursday, July 10th. They issued a "neutral" rating and a $75.00 price target on the stock. Finally, Evercore ISI lowered their price objective on shares of Marvell Technology from $135.00 to $133.00 and set an "outperform" rating for the company in a research report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $94.47.

Marvell Technology Trading Up 2.0%

The stock has a market cap of $65.38 billion, a P/E ratio of -132.75, a PEG ratio of 0.80 and a beta of 1.81. The business's 50 day simple moving average is $69.95 and its two-hundred day simple moving average is $77.11. 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 released its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the business earned $0.24 earnings per share. Marvell Technology's revenue for the quarter was up 63.3% on a year-over-year basis. As a group, analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be issued a $0.06 dividend. The ex-dividend date is Friday, July 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.32%. Marvell Technology's dividend payout ratio is presently -42.11%.

Insider Activity

In other news, EVP Mark Casper sold 3,000 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $72.35, for a total transaction of $217,050.00. Following the completion of the transaction, the executive vice president directly owned 17,163 shares of the company's stock, valued at $1,241,743.05. This represents a 14.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $65.10, for a total transaction of $390,600.00. Following the transaction, the chief operating officer directly owned 92,065 shares of the company's stock, valued at $5,993,431.50. This represents a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,934 shares of company stock valued at $1,187,826. 0.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Hughes Financial Services LLC purchased a new stake in Marvell Technology in the 1st quarter worth approximately $26,000. Rossby Financial LCC bought a new stake in Marvell Technology in the 1st quarter worth $27,000. Financial Connections Group Inc. boosted its stake in shares of Marvell Technology by 776.0% during the 1st quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 388 shares in the last quarter. Game Plan Financial Advisors LLC bought a new stake in Marvell Technology during the second quarter worth about $27,000. Finally, Vision Financial Markets LLC purchased a new position in Marvell Technology in the first quarter worth about $28,000. 83.51% of the stock is owned by institutional investors.

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.

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