Marvell Technology (NASDAQ:MRVL) Trading Down 2.7% - What's Next?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report)'s share price dropped 2.7% during trading on Tuesday . The stock traded as low as $105.69 and last traded at $110.53. Approximately 6,610,142 shares traded hands during trading, a decline of 49% from the average daily volume of 12,916,064 shares. The stock had previously closed at $113.56.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Craig Hallum lifted their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the company a "buy" rating in a report on Monday, January 6th. Citigroup upped their price objective on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. William Blair upgraded Marvell Technology to a "strong-buy" rating in a research note on Wednesday. StockNews.com raised Marvell Technology from a "sell" rating to a "hold" rating in a report on Thursday, January 9th. Finally, Wells Fargo & Company upped their target price on Marvell Technology from $130.00 to $140.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. Three 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.com, Marvell Technology presently has an average rating of "Moderate Buy" and an average target price of $127.60.

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Marvell Technology Price Performance

The business has a fifty day moving average price of $113.95 and a two-hundred day moving average price of $88.97. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. Marvell Technology's dividend payout ratio is currently -14.12%.

Insider Transactions at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the sale, the executive vice president now owns 103,244 shares in the company, valued at approximately $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Casper sold 2,500 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the sale, the executive vice president now directly owns 24,706 shares of the company's stock, valued at approximately $2,791,778. This trade represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Centricity Wealth Management LLC bought a new stake in shares of Marvell Technology in the 4th quarter worth approximately $26,000. ORG Partners LLC raised its position in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 149 shares during the period. Rialto Wealth Management LLC purchased a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $27,000. Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology in the fourth quarter worth $33,000. Finally, Financial Life Planners acquired a new position in Marvell Technology during the fourth quarter valued at $33,000. 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.