Marvell Technology (NASDAQ:MRVL) Stock Price Down 2.4% – What’s Next?

Marvell Technology, Inc. (NASDAQ:MRVL) fell 2.4% on Thursday . The stock traded as low as $90.75 and last traded at $92.61. 4,667,426 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 13,108,979 shares. The stock had previously closed at $94.90.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Craig Hallum raised their price objective on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, January 6th. B. Riley raised their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. UBS Group raised their price objective on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Piper Sandler restated an “overweight” rating and set a $120.00 price objective (up from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Trading Up 4.8 %

The stock has a 50-day simple moving average of $112.03 and a 200 day simple moving average of $92.96. 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 company has a market cap of $79.45 billion, a price-to-earnings ratio of -54.01, a PEG ratio of 1.61 and a beta of 1.40.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.26%. Marvell Technology’s payout ratio is -14.12%.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the transaction, the chief financial officer now owns 111,211 shares of the company’s stock, valued at approximately $13,159,597.63. This represents a 1.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the transaction, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at $11,912,390. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock worth $4,330,980 over the last quarter. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Marvell Technology

Hedge funds have recently made changes to their positions in the company. Swedbank AB increased its holdings in shares of Marvell Technology by 1.0% in the third quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after purchasing an additional 23,680 shares during the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of Marvell Technology by 23.1% in the third quarter. First Trust Direct Indexing L.P. now owns 13,759 shares of the semiconductor company’s stock valued at $992,000 after purchasing an additional 2,584 shares during the last quarter. Stephens Investment Management Group LLC increased its holdings in shares of Marvell Technology by 34.3% in the third quarter. Stephens Investment Management Group LLC now owns 239,936 shares of the semiconductor company’s stock valued at $17,304,000 after purchasing an additional 61,307 shares during the last quarter. Stephens Inc. AR increased its holdings in shares of Marvell Technology by 16.2% in the third quarter. Stephens Inc. AR now owns 8,407 shares of the semiconductor company’s stock valued at $606,000 after purchasing an additional 1,175 shares during the last quarter. Finally, Americana Partners LLC purchased a new position in Marvell Technology in the third quarter worth approximately $315,000. Institutional investors and hedge funds 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.