Marvell Technology (NASDAQ:MRVL) Shares Down 1.4% – What’s Next?

Marvell Technology, Inc. (NASDAQ:MRVL) fell 1.4% during mid-day trading on Thursday . The stock traded as low as $68.85 and last traded at $68.85. 4,734,584 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 12,742,919 shares. The stock had previously closed at $69.85.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MRVL. Roth Capital set a $100.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Benchmark reiterated a “buy” rating and set a $135.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Needham & Company LLC decreased their target price on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Summit Insights downgraded shares of Marvell Technology from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group increased their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $120.44.

Marvell Technology Trading Down 0.0 %

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 business has a 50 day moving average of $104.78 and a 200-day moving average of $93.60. The stock has a market cap of $59.48 billion, a PE ratio of -40.44, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Insider Activity at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the transaction, the chief operating officer now directly owns 87,931 shares in the company, valued at approximately $9,351,461.85. The trade was a 6.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brad W. Buss purchased 3,000 shares of the business’s stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $69.00 per share, with a total value of $207,000.00. Following the completion of the acquisition, the director now directly owns 87,113 shares in the company, valued at $6,010,797. The trade was a 3.57 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Keystone Financial Services LLC acquired a new position in Marvell Technology in the 4th quarter valued at $224,000. Castle Rock Wealth Management LLC raised its holdings in Marvell Technology by 165.8% in the 4th quarter. Castle Rock Wealth Management LLC now owns 16,283 shares of the semiconductor company’s stock valued at $1,734,000 after acquiring an additional 10,157 shares during the last quarter. Total Wealth Planning & Management Inc. acquired a new stake in shares of Marvell Technology during the 4th quarter worth $824,000. Menard Financial Group LLC acquired a new stake in shares of Marvell Technology during the 4th quarter worth $669,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Marvell Technology during the 4th quarter worth $105,450,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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.