Marvell Technology (NASDAQ:MRVL) Shares Gap Up – Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $106.79, but opened at $111.37. Marvell Technology shares last traded at $110.15, with a volume of 2,690,195 shares traded.

Wall Street Analyst Weigh In

MRVL has been the subject of several recent analyst reports. Wells Fargo & Company boosted their target price on Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Barclays upped their price objective on Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Morgan Stanley decreased their target price on Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating for the company in a research report on Tuesday. Bank of America upped their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, January 10th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Trading Up 2.3 %

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The business’s 50-day moving average price is $111.72 and its 200-day moving average price is $87.43.

Marvell Technology Dividend Announcement

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

Insider Transactions at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the sale, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. Insiders sold 37,755 shares of company stock valued at $4,361,430 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MRVL. Temasek Holdings Private Ltd lifted its position in Marvell Technology by 581.8% during the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after purchasing an additional 1,911,532 shares during the period. Holocene Advisors LP acquired a new position in shares of Marvell Technology in the 3rd quarter valued at about $120,116,000. Van ECK Associates Corp boosted its stake in shares of Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after buying an additional 1,570,050 shares during the last quarter. Perpetual Ltd boosted its stake in shares of Marvell Technology by 3,405.3% in the fourth quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after buying an additional 682,457 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in Marvell Technology by 14.0% during the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after acquiring an additional 571,005 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

About Marvell Technology

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.