Marvell Technology (NASDAQ:MRVL) Trading 5.1% Higher – What’s Next?

Marvell Technology, Inc. (NASDAQ:MRVL)’s stock price shot up 5.1% during mid-day trading on Wednesday . The stock traded as high as $114.94 and last traded at $115.30. 4,176,773 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 12,875,583 shares. The stock had previously closed at $109.69.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Melius Research upgraded Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. TD Cowen raised their price objective on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Melius began coverage on Marvell Technology in a research report on Monday, January 27th. They issued a “buy” rating and a $188.00 target price on the stock. KeyCorp lifted their price target on shares of Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Evercore ISI raised their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Trading Up 5.4 %

The business’s 50 day simple moving average is $112.48 and its 200 day simple moving average is $88.27. The stock has a market cap of $100.05 billion, a P/E ratio of -67.69, a PEG ratio of 3.71 and a beta of 1.40. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s payout ratio is presently -14.12%.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at approximately $10,180,768.54. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the transaction, the executive vice president now owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Marvell Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. True Wealth Design LLC boosted its holdings in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares in the last quarter. ORG Partners LLC grew its position in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $26,000. Kieckhefer Group LLC bought a new position in Marvell Technology in the 4th quarter valued at approximately $33,000. Finally, Financial Life Planners acquired a new stake in Marvell Technology in the fourth quarter valued at approximately $33,000. 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.