Marvell Technology (NASDAQ:MRVL) Shares Down 2.5% - Here's Why

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report)'s stock price fell 2.5% during mid-day trading on Wednesday . The stock traded as low as $105.15 and last traded at $106.44. 3,364,303 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 12,853,560 shares. The stock had previously closed at $109.12.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MRVL. Loop Capital increased their price objective on Marvell Technology from $95.00 to $110.00 and gave the stock a "hold" rating in a research report on Wednesday, December 4th. Evercore ISI upped their target price on Marvell Technology from $98.00 to $122.00 and gave the company an "outperform" rating in a report on Monday, December 2nd. Needham & Company LLC upped their target price on Marvell Technology from $95.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Bank of America upped their target price on Marvell Technology from $108.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Finally, KeyCorp upped their target price on Marvell Technology from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $127.60.

Marvell Technology Trading Up 2.9 %

The business has a 50 day simple moving average of $113.94 and a two-hundred day simple moving average of $90.43. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock has a market cap of $92.16 billion, a price-to-earnings ratio of -62.65, a price-to-earnings-growth ratio of 1.77 and a beta of 1.40.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. Marvell Technology's payout ratio is -14.12%.

Insider Transactions at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the transaction, the executive vice president now owns 97,244 shares in the company, valued at $11,912,390. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now owns 24,706 shares of the company's stock, valued at $2,791,778. This represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,255 shares of company stock worth $3,692,880. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Intrepid Financial Planning Group LLC grew its holdings in shares of Marvell Technology by 0.3% during the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock valued at $2,860,000 after buying an additional 90 shares in the last quarter. PDS Planning Inc grew its holdings in shares of Marvell Technology by 3.3% during the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock valued at $319,000 after buying an additional 92 shares in the last quarter. Lodestone Wealth Management LLC grew its stake in Marvell Technology by 2.0% in the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock valued at $514,000 after purchasing an additional 93 shares in the last quarter. Valley National Advisers Inc. grew its stake in Marvell Technology by 0.4% in the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company's stock valued at $2,775,000 after purchasing an additional 96 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in Marvell Technology by 2.7% in the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock valued at $414,000 after purchasing an additional 97 shares in the last quarter. 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.