Marvell Technology (NASDAQ:MRVL) Shares Down 2.3% – What’s Next?

Marvell Technology, Inc. (NASDAQ:MRVL) shares traded down 2.3% on Friday . The company traded as low as $106.63 and last traded at $106.25. 1,505,087 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 12,607,666 shares. The stock had previously closed at $108.71.

Analyst Upgrades and Downgrades

Several research firms recently commented on MRVL. Citigroup raised their price target on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley decreased their target price on shares of Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. KeyCorp lifted their price objective on Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Finally, StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Trading Down 5.5 %

The company has a market capitalization of $88.87 billion, a P/E ratio of -60.41, a P/E/G ratio of 1.64 and a beta of 1.40. The company has a 50-day simple moving average of $113.93 and a 200 day simple moving average of $91.69. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 97,244 shares of the company’s stock, valued at $11,912,390. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,255 shares of company stock valued at $4,330,980 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MRVL. State Street Corp increased its holdings in Marvell Technology by 0.3% in the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after buying an additional 68,893 shares during the period. Invesco Ltd. increased its stake in Marvell Technology by 30.1% in the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock valued at $1,784,649,000 after acquiring an additional 3,737,705 shares during the period. Janus Henderson Group PLC raised its position in Marvell Technology by 6.9% in the fourth quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company’s stock worth $1,462,274,000 after purchasing an additional 857,087 shares in the last quarter. Wellington Management Group LLP raised its position in Marvell Technology by 43.1% in the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock worth $1,374,252,000 after purchasing an additional 3,747,982 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Marvell Technology by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock worth $1,263,755,000 after purchasing an additional 80,005 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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.