Marvell Technology (NASDAQ:MRVL) Shares Down 2% – What’s Next?

Marvell Technology, Inc. (NASDAQ:MRVL) shares fell 2% on Thursday . The stock traded as low as $64.93 and last traded at $65.46. 3,832,138 shares changed hands during trading, a decline of 70% from the average session volume of 12,584,913 shares. The stock had previously closed at $66.76.

Analyst Ratings Changes

MRVL has been the topic of several recent research reports. Morgan Stanley cut their price target on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Oppenheimer raised their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Benchmark reiterated a “buy” rating and set a $135.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Citigroup reduced their price objective on shares of Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Finally, StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Three equities research 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’s stock. According to MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $120.44.

Marvell Technology Trading Down 4.3 %

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 firm has a market cap of $53.73 billion, a PE ratio of -36.49, a PEG ratio of 1.61 and a beta of 1.42. The business has a 50-day moving average price of $94.05 and a two-hundred day moving average price of $93.47.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.39%. Marvell Technology’s dividend payout ratio (DPR) is -23.53%.

Insider Activity at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $103,245.00. Following the completion of the transaction, the chief financial officer now directly owns 113,592 shares of the company’s stock, valued at $7,818,537.36. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the sale, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,685 shares of company stock valued at $4,026,768. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marvell Technology

Institutional investors and hedge funds have recently modified their holdings of the company. True Wealth Design LLC raised its holdings in Marvell Technology by 1,481.8% in the 3rd 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 last quarter. ORG Partners LLC increased its stake in Marvell Technology by 175.3% in the fourth 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 last quarter. Centricity Wealth Management LLC purchased a new position in Marvell Technology during the fourth quarter worth about $26,000. Rialto Wealth Management LLC acquired a new stake in Marvell Technology in the 4th quarter worth about $27,000. Finally, Kieckhefer Group LLC purchased a new stake in Marvell Technology in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

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.