Marvell Technology (NASDAQ:MRVL) Shares Rise by 3.4% – Should You Invest?

Marvell Technology, Inc. (NASDAQ:MRVL) experienced a notable increase of 3.4% on Thursday, reaching a peak trading value of $110.38 before settling at $108.82. During midday commerce, around 7,351,373 shares changed hands, indicating a 42% decrease from the average daily trading volume of 12,602,374 shares. The stock concluded the previous day at $105.28.

Insights from Wall Street Analysts

Marvell Technology has recently attracted attention from several research analysts. For instance, Craig Hallum raised their price target for Marvell shares from $88.00 to $132.00, while also rating the stock as a "buy" on December 4th. TD Cowen followed suit, increasing their target from $90.00 to $125.00 and tagging the stock with a "buy" rating. Similarly, the Goldman Sachs Group revised their target upward from $87.00 to $115.00, also classifying it as a "buy." Barclays has set their target at $115.00, up from $85.00, and described the stock as "overweight." Susquehanna also raised their target from $110.00 to $125.00 with a "positive" rating. Currently, MarketBeat.com reports that out of 27 analysts, three assigned a "hold" rating while 24 recommended a "buy," resulting in an average rating classified as a "Moderate Buy" with a consensus target price of $119.04.

Marvell Technology Stock Performance

Marvell's financial health reflects a debt-to-equity ratio of 0.30, a quick ratio of 1.11, and a current ratio of 1.60, indicating a generally stable fiscal position. The firm's 50-day moving average stands at $92.44, with a 200-day moving average at $77.65. Marvell Technology has a market capitalization of $94.61 billion, a PE ratio of -64.32, a P/E/G ratio of 3.72, and a beta of 1.46, which signifies moderate volatility in price.

Dividend Information

In terms of dividends, Marvell Technology announced a quarterly dividend scheduled for distribution on January 30th. Shareholders who are registered by January 10th will receive a dividend of $0.06 per share, equating to an annualized dividend yield of 0.24%. The ex-dividend date is also set for January 10th, and the payout ratio of the dividend stands at -14.12%.

Insider Trading Activities

Recent insider trading activity has been recorded, with EVP Mark Casper selling 2,500 shares on October 1st at an average price of $70.83, netting a total of $177,075. Following this transaction, he holds 22,494 shares valued at about $1.59 million. Similarly, CFO Willem A. Meintjes sold 1,500 shares on October 15th at an average price of $80.50 for a total of $120,750, leading to a remaining holding of 110,253 shares worth approximately $8.88 million. Over the past three months, insiders have sold a total of 175,000 shares amounting to about $14.44 million, with current insider ownership at 0.33% of the stock.

Institutional Holdings

Institutional investment in Marvell Technology has shown a recent trend of growth. For instance, Ameriprise Financial increased their holdings by 24.1% during the second quarter, now owning over 11.6 million shares worth approximately $812.51 million. Temasek Holdings Private Ltd expanded its stake by 581.8% in the third quarter, owning 2.24 million shares valued at around $161.56 million after acquiring an additional 1.91 million shares. Holocene Advisors LP has also entered with a new position valued at $120.12 million in the same quarter. Other significant movements include Van ECK Associates Corp increasing their holdings by 26.6%, securing 7.47 million shares worth about $538.87 million. Currently, hedge funds and institutional investors control about 83.51% of Marvell Technology stock.

Company Overview

Marvell Technology, Inc. and its subsidiaries focus on providing semiconductor solutions for data infrastructure, extending from core data centers to the network edge. The company is recognized for developing and scaling complex System-on-a-Chip architectures that integrate various processing functionalities.

Marvell, Technology, Stocks