Marvell Technology (NASDAQ:MRVL) Sees Strong Trading Volume – Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL) saw strong trading volume on Friday . 9,874,433 shares were traded during mid-day trading, a decline of 23% from the previous session’s volume of 12,753,570 shares.The stock last traded at $68.00 and had previously closed at $72.28.

Analyst Ratings Changes

Several research firms recently issued reports on MRVL. Barclays cut their price target on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Needham & Company LLC cut their price objective on Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday. Susquehanna upped their target price on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group upped their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average price target of $121.68.

Marvell Technology Price Performance

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 stock has a 50-day simple moving average of $109.13 and a 200 day simple moving average of $93.67. The company has a market cap of $59.78 billion, a P/E ratio of -40.71, a P/E/G ratio of 1.61 and a beta of 1.40.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.35%. Marvell Technology’s dividend payout ratio is -14.12%.

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the completion of the sale, the chief operating officer now directly owns 87,931 shares in the company, valued at approximately $9,351,461.85. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock worth $4,330,980 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Hedge funds have recently added to or reduced their stakes in the company. Intrepid Financial Planning Group LLC increased its holdings in Marvell Technology by 0.3% in the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock valued at $2,860,000 after purchasing an additional 90 shares during the period. PDS Planning Inc lifted its holdings in shares of Marvell Technology by 3.3% in the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock worth $319,000 after purchasing an additional 92 shares in the last quarter. Lodestone Wealth Management LLC increased its holdings in Marvell Technology by 2.0% during the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock worth $514,000 after purchasing an additional 93 shares in the last quarter. Valley National Advisers Inc. grew its position in Marvell Technology by 0.4% in the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after purchasing an additional 96 shares in the last quarter. Finally, Private Trust Co. NA increased its position in shares of Marvell Technology by 2.7% during the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock valued at $414,000 after purchasing an additional 97 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

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.