Marvell Technology (NASDAQ:MRVL) Stock Price Up 0.1% – Time to Buy?

Marvell Technology, Inc. (NASDAQ:MRVL)’s stock price was up 0.1% on Tuesday . The company traded as high as $82.42 and last traded at $81.90. Approximately 1,392,371 shares traded hands during trading, a decline of 89% from the average daily volume of 12,308,104 shares. The stock had previously closed at $81.83.

Wall Street Analysts Forecast Growth

MRVL has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Barclays boosted their price objective on shares of Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Benchmark raised their target price on shares of Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 30th. Stifel Nicolaus reiterated a “buy” rating and issued a $95.00 price target (up from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Finally, Evercore ISI lifted their price objective on Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.62.

Marvell Technology Stock Up 1.6 %

The stock has a market cap of $71.96 billion, a price-to-earnings ratio of -72.48, a PEG ratio of 3.17 and a beta of 1.45. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average of $72.42 and a two-hundred day moving average of $70.26.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the business earned $0.18 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, analysts predict that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.29%. Marvell Technology’s payout ratio is -21.24%.

Insider Activity at Marvell Technology

In related news, Director Ford Tamer sold 92,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the sale, the director now directly owns 351,193 shares in the company, valued at approximately $26,044,472.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $66.75, for a total value of $100,125.00. Following the transaction, the chief financial officer now owns 113,253 shares of the company’s stock, valued at $7,559,637.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ford Tamer sold 92,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $74.16, for a total value of $6,822,720.00. Following the transaction, the director now directly owns 351,193 shares of the company’s stock, valued at $26,044,472.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 255,000 shares of company stock worth $19,846,215. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Salomon & Ludwin LLC acquired a new stake in Marvell Technology in the 1st quarter valued at approximately $31,000. Quarry LP acquired a new stake in Marvell Technology in the second quarter worth about $32,000. Strategic Investment Solutions Inc. IL bought a new position in Marvell Technology in the 2nd quarter valued at about $32,000. Whittier Trust Co. increased its stake in Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 210 shares during the period. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in Marvell Technology during the first quarter worth approximately $35,000. 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.