Marvell Technology (NASDAQ:MRVL) Shares Down 1.2% – What’s Next?

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price traded down 1.2% during mid-day trading on Tuesday . The stock traded as low as $122.10 and last traded at $123.27. 3,887,594 shares were traded during mid-day trading, a decline of 62% from the average session volume of 10,291,562 shares. The stock had previously closed at $124.76.

Analyst Ratings Changes

Several equities research analysts recently commented on MRVL shares. Rosenblatt Securities lifted their price target on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Loop Capital boosted their target price on Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. B. Riley raised their price target on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Barclays boosted their price objective on Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Citigroup lifted their target price on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and an average target price of $124.96.

Marvell Technology Price Performance

The firm has a market capitalization of $108.11 billion, a PE ratio of -73.46, a P/E/G ratio of 4.10 and a beta of 1.41. The company has a 50-day moving average price of $107.35 and a 200-day moving average price of $85.01. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the transaction, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. This trade represents a 5.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,755 shares of company stock worth $3,615,030. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Marvell Technology

A number of large investors have recently modified their holdings of the company. True Wealth Design LLC increased its position in Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares in the last quarter. ORG Partners LLC increased its position in shares of Marvell Technology by 175.3% in the fourth 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. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Marvell Technology in the second quarter worth $32,000. Quarry LP purchased a new position in shares of Marvell Technology in the 2nd quarter valued at $32,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Marvell Technology during the 4th quarter valued at $33,000. 83.51% of the stock is currently owned by hedge funds and other 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.