Marvell Technology (NASDAQ:MRVL) Trading Down 1.5% - What's Next?

Shares of Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) were down 1.5% on Monday . The company traded as low as $57.74 and last traded at $58.02. Approximately 2,731,476 shares were traded during trading, a decline of 80% from the average daily volume of 13,585,314 shares. The stock had previously closed at $58.92.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MRVL shares. Loop Capital raised Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 target price on the stock in a research report on Thursday, March 6th. Raymond James set a $110.00 price target on Marvell Technology in a report on Thursday, March 6th. Wells Fargo & Company reiterated an "overweight" rating on shares of Marvell Technology in a research note on Thursday, March 6th. Piper Sandler dropped their price target on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Finally, Benchmark restated a "buy" rating and set a $135.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $114.56.

Marvell Technology Trading Down 1.8 %

The stock has a market capitalization of $50.10 billion, a P/E ratio of -34.03, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. The stock's fifty day moving average price is $68.53 and its two-hundred day moving average price is $90.83. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors 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 annualized dividend and a dividend yield of 0.41%. Marvell Technology's payout ratio is -23.53%.

Insider Buying and Selling at Marvell Technology

In related news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the transaction, the chief operating officer now owns 87,931 shares in the company, valued at approximately $9,351,461.85. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brad W. Buss purchased 3,000 shares of the firm's stock in a transaction on Friday, March 7th. The stock was bought at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the purchase, the director now owns 87,113 shares in the company, valued at approximately $6,010,797. This represents a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 27,390 shares of company stock worth $1,937,938. Company insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Marvell Technology

Institutional investors and hedge funds have recently made changes to their positions in the stock. ORG Partners LLC increased its holdings in shares of Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 149 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in Marvell Technology during the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Marvell Technology in the 4th quarter valued at about $27,000. Rossby Financial LCC purchased a new position in shares of Marvell Technology during the first quarter worth approximately $27,000. Finally, Security National Bank purchased a new stake in shares of Marvell Technology in the first quarter valued at about $31,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.