Marvell Technology (NASDAQ:MRVL) Hits New 12-Month High – Still a Buy?

Marvell Technology, Inc. (NASDAQ:MRVL)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $126.99 and last traded at $124.95, with a volume of 211603 shares traded. The stock had previously closed at $124.76.

Wall Street Analysts Forecast Growth

MRVL has been the subject of several recent analyst reports. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Evercore ISI increased their price target on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. KeyCorp boosted their price objective on Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday. TD Cowen raised their target price on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Citigroup boosted their price target on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.38.

Marvell Technology Trading Up 1.2 %

The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock’s 50-day moving average is $108.68 and its 200 day moving average is $85.65.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Insider Activity at Marvell Technology

In other news, EVP Mark Casper sold 7,755 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total transaction of $177,495.00. Following the completion of the sale, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at approximately $13,159,597.63. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,755 shares of company stock valued at $3,615,030. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MRVL. True Wealth Design LLC boosted its holdings in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares during the period. ORG Partners LLC boosted its stake in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Marvell Technology in the 2nd quarter valued at approximately $32,000. Quarry LP bought a new position in Marvell Technology in the 2nd quarter worth approximately $32,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Marvell Technology during the fourth quarter worth approximately $33,000. 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.