Marvell Technology (NASDAQ:MRVL) Stock Price Down 0.4% After Analyst Downgrade

Marvell Technology, Inc. (NASDAQ:MRVL) fell 0.4% on Friday after Stifel Nicolaus lowered their price target on the stock from $115.00 to $80.00. Stifel Nicolaus currently has a buy rating on the stock. Marvell Technology traded as low as $50.79 and last traded at $51.70. 12,265,764 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 13,505,006 shares. The stock had previously closed at $51.93.

MRVL has been the subject of several other research reports. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Marvell Technology in a research report on Thursday, March 6th. Citigroup lowered their price objective on shares of Marvell Technology from $122.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Melius Research upgraded Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. The Goldman Sachs Group raised their price objective on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Melius started coverage on shares of Marvell Technology in a report on Monday, January 27th. They issued a “buy” rating and a $188.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.41.

Insider Activity

In related news, COO Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the transaction, the chief operating officer now owns 87,931 shares in the company, valued at $9,351,461.85. The trade was a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $103,245.00. Following the sale, the chief financial officer now owns 113,592 shares of the company’s stock, valued at approximately $7,818,537.36. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,930 shares of company stock valued at $1,999,038. 0.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Marvell Technology

Hedge funds have recently added to or reduced their stakes in the business. ORG Partners LLC grew its position in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after buying an additional 149 shares during the period. Centricity Wealth Management LLC bought a new position in Marvell Technology during the fourth quarter worth $26,000. Rialto Wealth Management LLC acquired a new stake in Marvell Technology in the fourth quarter worth $27,000. Kieckhefer Group LLC bought a new stake in Marvell Technology in the fourth quarter valued at $33,000. Finally, Financial Life Planners acquired a new position in shares of Marvell Technology during the fourth quarter valued at about $33,000. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Stock Down 0.4 %

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 stock’s 50-day moving average price is $74.86 and its 200-day moving average price is $91.36. The company has a market cap of $44.78 billion, a P/E ratio of -30.41, a PEG ratio of 1.61 and a beta of 1.78.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.46%. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

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.