Marvell Technology (NASDAQ:MRVL) Stock Price Up 0.2% – Here’s Why

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price was up 0.2% during mid-day trading on Friday . The company traded as high as $127.20 and last traded at $126.26. Approximately 2,164,135 shares were traded during trading, a decline of 79% from the average daily volume of 10,298,308 shares. The stock had previously closed at $126.06.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MRVL. UBS Group upped their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. The Goldman Sachs Group lifted their price objective on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Craig Hallum increased their target price on Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, KeyCorp raised their target price on Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.38.

Marvell Technology Trading Down 1.6 %

The company has a 50 day moving average of $110.11 and a 200 day moving average of $86.36. The firm has a market cap of $107.31 billion, a price-to-earnings ratio of -72.95, a price-to-earnings-growth ratio of 4.12 and a beta of 1.41. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Insider Buying and Selling

In related news, Director Michael G. Strachan sold 5,000 shares of Marvell Technology stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the transaction, the director now directly owns 30,959 shares of the company’s stock, valued at $3,797,121.35. The trade was a 13.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the transaction, the chief financial officer now 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 disclosure for this sale can be found here. Insiders sold 37,755 shares of company stock worth $4,361,430 in the last quarter. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marvell Technology

Institutional investors have recently modified their holdings of the stock. ORG Partners LLC increased its holdings in shares of 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 purchasing an additional 149 shares in the last quarter. Kieckhefer Group LLC acquired a new position in Marvell Technology during the 4th quarter worth $33,000. Financial Life Planners acquired a new stake in shares of Marvell Technology in the 4th quarter valued at $33,000. True Wealth Design LLC increased its stake 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 buying an additional 326 shares during the period. Finally, Quarry LP bought a new stake in shares of Marvell Technology during the second quarter worth $32,000. 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.