Marvell Technology (NASDAQ:MRVL) Shares Down 0% – What’s Next?

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price fell 0% during mid-day trading on Monday . The company traded as low as $111.55 and last traded at $114.29. 3,426,617 shares traded hands during trading, a decline of 65% from the average session volume of 9,835,844 shares. The stock had previously closed at $114.32.

Wall Street Analyst Weigh In

MRVL has been the subject of several research analyst reports. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Benchmark reiterated a “buy” rating and set a $135.00 price objective (up previously from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Stifel Nicolaus raised their target price on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Piper Sandler reaffirmed an “overweight” rating and set a $120.00 price target (up from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Finally, TD Cowen raised their price objective on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average target price of $121.68.

Marvell Technology Price Performance

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 $100.37 billion, a PE ratio of -68.23, a P/E/G ratio of 4.03 and a beta of 1.41. The business’s fifty day moving average is $105.11 and its 200-day moving average is $83.63.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.21%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insider Buying and Selling at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the sale, the executive vice president now directly owns 109,244 shares in the company, valued at approximately $8,823,637.88. The trade was a 5.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the transaction, the executive vice president now owns 24,706 shares of the company’s stock, valued at $2,791,778. This represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,500 shares of company stock worth $2,967,670 over the last ninety days. 0.33% of the stock is currently owned by company insiders.

Institutional Trading of Marvell Technology

A number of institutional investors have recently added to or reduced their stakes in the stock. ORG Partners LLC lifted its stake in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Kieckhefer Group LLC bought a new stake in shares of Marvell Technology during the 4th quarter valued at about $33,000. True Wealth Design LLC grew its holdings in shares of Marvell Technology by 1,481.8% during the third 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. Quarry LP bought a new position in shares of Marvell Technology in the second quarter worth approximately $32,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Marvell Technology in the second quarter valued at approximately $32,000. 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.