Marvell Technology (NASDAQ:MRVL) Trading Down 0.2% – What’s Next?

Marvell Technology, Inc. (NASDAQ:MRVL) shares fell 0.2% during trading on Tuesday . The stock traded as low as $110.82 and last traded at $111.48. 1,019,415 shares were traded during mid-day trading, a decline of 92% from the average session volume of 12,560,738 shares. The stock had previously closed at $111.66.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MRVL shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $125.00 price objective (up from $114.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. JPMorgan Chase & Co. increased their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Needham & Company LLC raised their price objective on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Rosenblatt Securities increased their price target on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Evercore ISI increased their target price on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus target price of $119.76.

Marvell Technology Stock Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm has a market capitalization of $95.57 billion, a PE ratio of -64.97, a price-to-earnings-growth ratio of 4.03 and a beta of 1.46. The firm’s 50 day moving average price is $99.16 and its 200-day moving average price is $80.65.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Insider Buying and Selling

In related news, CEO Matthew J. Murphy bought 13,000 shares of the stock in a transaction dated Monday, October 14th. The shares were acquired at an average cost of $77.63 per share, for a total transaction of $1,009,190.00. Following the acquisition, the chief executive officer now directly owns 221,915 shares in the company, valued at approximately $17,227,261.45. This trade represents a 6.22 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the sale, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. This represents a 5.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 172,500 shares of company stock valued at $14,267,670. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marvell Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRVL. Oddo BHF Asset Management Sas acquired a new stake in shares of Marvell Technology during the 3rd quarter worth approximately $10,944,000. Beaird Harris Wealth Management LLC raised its position in Marvell Technology by 2,313.8% in the third quarter. Beaird Harris Wealth Management LLC now owns 700 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 671 shares during the period. Peapack Gladstone Financial Corp lifted its stake in shares of Marvell Technology by 27.3% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 23,312 shares of the semiconductor company’s stock valued at $1,681,000 after purchasing an additional 5,005 shares during the last quarter. Synovus Financial Corp increased its position in shares of Marvell Technology by 60.5% during the 3rd quarter. Synovus Financial Corp now owns 6,489 shares of the semiconductor company’s stock worth $468,000 after purchasing an additional 2,445 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Marvell Technology in the 3rd quarter valued at about $3,432,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

About Marvell Technology

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.