Marvell Technology (NASDAQ:MRVL) Trading Up 1.7% - Should You Buy?

Shares of Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) were up 1.7% during trading on Friday . The stock traded as high as $73.40 and last traded at $73.26. Approximately 4,057,014 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 15,833,000 shares. The stock had previously closed at $72.01.

Wall Street Analysts Forecast Growth

MRVL has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Marvell Technology from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Citigroup reduced their price objective on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Needham & Company LLC cut shares of Marvell Technology from a "buy" rating to a "cautious" rating in a research note on Wednesday. Redburn Atlantic initiated coverage on shares of Marvell Technology in a research note on Wednesday, May 28th. They issued a "neutral" rating and a $67.00 price objective for the company. Finally, Wells Fargo & Company reduced their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. One investment 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $94.47.

Marvell Technology Trading Up 3.7%

The business's 50-day simple moving average is $68.81 and its two-hundred day simple moving average is $79.37. 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 stock has a market capitalization of $64.53 billion, a price-to-earnings ratio of -130.80, a PEG ratio of 0.77 and a beta of 1.81.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $1.88 billion. During the same period in the previous year, the company posted $0.24 earnings per share. The business's revenue for the quarter was up 63.3% compared to the same quarter last year. On average, research analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

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

Insider Activity

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 transaction of $102,780.00. Following the transaction, the chief financial officer directly owned 121,348 shares of the company's stock, valued at approximately $8,314,764.96. The trade was a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The disclosure for this sale can be found here. In the last three months, insiders sold 27,394 shares of company stock valued at $1,656,076. 0.19% of the stock is currently owned by company insiders.

Institutional Trading of Marvell Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in MRVL. Hughes Financial Services LLC bought a new stake in shares of Marvell Technology in the first quarter worth $26,000. Rossby Financial LCC bought a new stake in Marvell Technology during the first quarter valued at $27,000. Financial Connections Group Inc. increased its stake in Marvell Technology by 776.0% during the first 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 during the last quarter. Vision Financial Markets LLC bought a new stake in Marvell Technology during the first quarter valued at $28,000. Finally, Security National Bank bought a new stake in Marvell Technology during the first quarter valued at $31,000. Institutional investors 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.

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