Marvell Technology (NASDAQ:MRVL) Trading Down 3.5% - Here's Why

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) was down 3.5% during trading on Monday . The stock traded as low as $59.24 and last traded at $59.84. Approximately 4,269,960 shares traded hands during trading, a decline of 67% from the average daily volume of 12,881,642 shares. The stock had previously closed at $62.04.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. William Blair raised shares of Marvell Technology to a "strong-buy" rating in a research note on Wednesday, February 5th. UBS Group upped their price objective on Marvell Technology from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. StockNews.com upgraded shares of Marvell Technology from a "sell" rating to a "hold" rating in a report on Thursday, January 9th. The Goldman Sachs Group raised their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Finally, Bank of America cut their price target on shares of Marvell Technology from $150.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $120.44.

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Marvell Technology Trading Up 0.9 %

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The firm has a market capitalization of $54.76 billion, a PE ratio of -37.19, a PEG ratio of 1.61 and a beta of 1.42. The firm's fifty day moving average is $90.32 and its two-hundred day moving average is $93.37.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Friday, April 11th. Marvell Technology's dividend payout ratio is presently -23.53%.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business's stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares in the company, valued at $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brad W. Buss bought 3,000 shares of Marvell Technology stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the transaction, the director now directly owns 87,113 shares in the company, valued at approximately $6,010,797. This trade represents a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 37,685 shares of company stock worth $4,026,768. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Marvell Technology

Several institutional investors and hedge funds have recently bought and sold shares of the company. Townsquare Capital LLC lifted its position in shares of Marvell Technology by 54.9% during the 3rd quarter. Townsquare Capital LLC now owns 11,669 shares of the semiconductor company's stock valued at $842,000 after buying an additional 4,136 shares during the last quarter. Captrust Financial Advisors boosted its position in Marvell Technology by 3.5% during the third quarter. Captrust Financial Advisors now owns 37,040 shares of the semiconductor company's stock worth $2,671,000 after purchasing an additional 1,260 shares during the period. True Wealth Design LLC raised its position in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 326 shares during the period. Atom Investors LP boosted its holdings in Marvell Technology by 149.9% in the 3rd quarter. Atom Investors LP now owns 27,680 shares of the semiconductor company's stock worth $1,996,000 after buying an additional 16,604 shares during the period. Finally, Benjamin Edwards Inc. grew its stake in Marvell Technology by 1,231.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 4,499 shares of the semiconductor company's stock valued at $325,000 after buying an additional 4,161 shares in the last quarter. 83.51% of the stock is 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.