Marvell Technology (NASDAQ:MRVL) Stock Price Down 0% - What's Next?

Shares of Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) fell 0% on Tuesday . The stock traded as low as $114.26 and last traded at $115.12. 2,221,057 shares changed hands during trading, a decline of 77% from the average session volume of 9,693,797 shares. The stock had previously closed at $115.15.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MRVL shares. B. Riley lifted their price target on Marvell Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. UBS Group raised their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Loop Capital upped their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the company a "hold" rating in a report on Wednesday, December 4th. Cantor Fitzgerald raised their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, Marvell Technology currently has an average rating of "Moderate Buy" and an average target price of $121.68.

Marvell Technology Trading Up 1.4 %

The stock's fifty day simple moving average is $105.61 and its two-hundred day simple moving average is $83.85. The firm has a market cap of $101.74 billion, a PE ratio of -69.16, a PEG ratio of 3.76 and a beta of 1.41. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology's dividend payout ratio (DPR) is presently -14.12%.

Insiders Place Their Bets

In other news, Director Michael G. Strachan sold 5,000 shares of Marvell Technology stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the transaction, the director now owns 30,959 shares of the company's stock, valued at $3,797,121.35. The trade was a 13.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the sale, the executive vice president now directly owns 109,244 shares in the company, valued at $8,823,637.88. This trade represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,500 shares of company stock valued at $2,967,670. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Marvell Technology

A number of hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Marvell Technology by 0.3% in the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company's stock worth $1,438,336,000 after purchasing an additional 68,893 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Marvell Technology by 24.1% during the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company's stock valued at $812,509,000 after buying an additional 2,254,610 shares during the last quarter. Geode Capital Management LLC increased its holdings in Marvell Technology by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company's stock worth $818,916,000 after buying an additional 219,692 shares in the last quarter. Wellington Management Group LLP raised its position in Marvell Technology by 4.3% in the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company's stock worth $627,034,000 after buying an additional 359,005 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company's stock valued at $538,868,000 after acquiring an additional 1,570,050 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

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.

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