Barclays Has Lowered Expectations for Marvell Technology (NASDAQ:MRVL) Stock Price

Marvell Technology (NASDAQ:MRVL - Free Report) had its price objective lowered by Barclays from $130.00 to $80.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the semiconductor company's stock.

Several other research analysts have also issued reports on MRVL. Roth Capital set a $100.00 target price on Marvell Technology in a research report on Thursday, March 6th. Summit Insights downgraded shares of Marvell Technology from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Melius Research raised shares of Marvell Technology to a "strong-buy" rating in a research note on Monday, January 27th. William Blair upgraded Marvell Technology to a "strong-buy" rating in a research note on Wednesday, February 5th. Finally, Raymond James set a $110.00 price target on Marvell Technology in a report on Thursday, March 6th. Three investment 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 company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $114.56.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL traded up $0.09 during midday trading on Tuesday, hitting $57.42. The stock had a trading volume of 1,842,013 shares, compared to its average volume of 13,575,579. Marvell Technology has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. The company has a market capitalization of $49.73 billion, a P/E ratio of -33.75, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The company's 50-day moving average price is $69.50 and its 200-day moving average price is $90.68.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.42%. Marvell Technology's payout ratio is -23.53%.

Insider Activity at Marvell Technology

In other news, CAO Panteha Dixon sold 1,430 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the transaction, the chief accounting officer now directly owns 31,100 shares of the company's stock, valued at $2,138,125. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Casper sold 12,460 shares of the stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,390 shares of company stock worth $1,937,938. Company insiders own 0.33% of the company's stock.

Hedge Funds Weigh In On Marvell Technology

A number of institutional investors have recently added to or reduced their stakes in the business. Zweig DiMenna Associates LLC raised its position in shares of Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock valued at $23,583,000 after buying an additional 12,700 shares in the last quarter. Berbice Capital Management LLC bought a new stake in Marvell Technology during the fourth quarter worth about $637,000. RFG Advisory LLC boosted its holdings in shares of Marvell Technology by 6.2% in the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock worth $4,708,000 after purchasing an additional 2,507 shares in the last quarter. Franchise Capital Ltd bought a new position in shares of Marvell Technology during the 4th quarter valued at about $1,476,000. Finally, United Asset Strategies Inc. raised its holdings in shares of Marvell Technology by 7.1% during the 4th quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company's stock valued at $24,287,000 after buying an additional 14,547 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

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.