Marvell Technology (NASDAQ:MRVL) Trading Down 0.8% Following Analyst Downgrade

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price was down 0.8% during trading on Thursday after Stifel Nicolaus lowered their price target on the stock from $115.00 to $80.00. Stifel Nicolaus currently has a buy rating on the stock. Marvell Technology traded as low as $51.09 and last traded at $51.52. Approximately 3,472,737 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 13,456,506 shares. The stock had previously closed at $51.93.

A number of other equities research analysts have also recently commented on the stock. Rosenblatt Securities reissued a “buy” rating and set a $140.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Roth Capital set a $100.00 price objective on Marvell Technology in a report on Thursday, March 6th. William Blair raised Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Summit Insights lowered Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, TD Cowen decreased their price target on Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $116.41.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the sale, the executive vice president now owns 93,931 shares in the company, valued at approximately $11,685,016.40. This trade represents a 6.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 31,100 shares in the company, valued at $2,138,125. This represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,685 shares of company stock worth $2,953,523. 0.33% of the stock is owned by insiders.

Institutional Trading of Marvell Technology

A number of institutional investors have recently added to or reduced their stakes in MRVL. ORG Partners LLC boosted its stake in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Marvell Technology in the fourth quarter valued at $26,000. Rialto Wealth Management LLC purchased a new position in shares of Marvell Technology in the fourth quarter valued at $27,000. Kieckhefer Group LLC acquired a new position in shares of Marvell Technology during the 4th quarter worth $33,000. Finally, Financial Life Planners purchased a new stake in shares of Marvell Technology in the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

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 $76.09 and its 200 day moving average is $91.51. The stock has a market capitalization of $44.61 billion, a price-to-earnings ratio of -30.42, a PEG ratio of 1.61 and a beta of 1.78.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be given a $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.47%. Marvell Technology’s dividend payout ratio is presently -23.53%.

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.