Marvell Technology (NASDAQ:MRVL) Trading Up 2.8% - What's Next?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report)'s share price was up 2.8% on Tuesday . The company traded as high as $66.70 and last traded at $66.28. Approximately 6,374,639 shares were traded during trading, a decline of 54% from the average daily volume of 13,914,971 shares. The stock had previously closed at $64.50.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Cantor Fitzgerald downgraded Marvell Technology from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $125.00 to $60.00 in a research note on Wednesday, May 7th. KeyCorp reduced their target price on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Melius Research upgraded Marvell Technology to a "strong-buy" rating in a research note on Monday, January 27th. Finally, Roth Capital set a $100.00 target price on Marvell Technology in a research note on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $110.30.

Marvell Technology Price Performance

The firm has a market capitalization of $56.77 billion, a PE ratio of -38.66, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The business's 50 day moving average is $60.68 and its two-hundred day moving average is $89.28.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were paid a $0.06 dividend. The ex-dividend date was Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.37%. Marvell Technology's dividend payout ratio is -23.53%.

Insider Activity at Marvell Technology

In other Marvell Technology news, Director Brad W. Buss purchased 3,000 shares of the stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the purchase, the director now directly owns 87,113 shares of the company's stock, valued at approximately $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 this hyperlink. Also, EVP Mark Casper sold 12,460 shares of the business's stock in a transaction dated Wednesday, April 23rd. The shares were 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 ninety days, insiders sold 28,890 shares of company stock worth $2,027,938. Corporate insiders own 0.19% of the company's stock.

Hedge Funds Weigh In On Marvell Technology

A number of hedge funds have recently modified their holdings of MRVL. ORG Partners LLC increased its position in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after buying an additional 149 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Marvell Technology by 1.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 49,974 shares of the semiconductor company's stock valued at $5,520,000 after purchasing an additional 629 shares during the period. Harbor Capital Advisors Inc. increased its holdings in Marvell Technology by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 9,920 shares of the semiconductor company's stock valued at $1,096,000 after acquiring an additional 242 shares during the last quarter. Brookstone Capital Management increased its holdings in Marvell Technology by 16.0% in the 4th quarter. Brookstone Capital Management now owns 3,473 shares of the semiconductor company's stock valued at $384,000 after acquiring an additional 478 shares during the last quarter. Finally, Capital Investment Advisors LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth $250,000. Hedge funds and other 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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