Marvell Technology (NASDAQ:MRVL) Trading Down 0% – Here’s What Happened

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price traded down 0% on Monday . The stock traded as low as $111.55 and last traded at $114.29. 3,426,617 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 9,835,844 shares. The stock had previously closed at $114.32.

Wall Street Analysts Forecast Growth

MRVL has been the topic of several recent research reports. Cantor Fitzgerald raised their price target on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and set a $120.00 target price (up from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Rosenblatt Securities upped their price target on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Susquehanna raised their price target on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, December 4th. Finally, Craig Hallum boosted their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, January 6th. 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.68.

Marvell Technology Stock Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The stock has a market cap of $98.89 billion, a P/E ratio of -67.22, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. The firm’s 50 day moving average is $103.93 and its 200 day moving average is $82.98.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.

Insider Transactions at Marvell Technology

In related news, Director Michael G. Strachan sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the sale, the director now owns 30,959 shares in the company, valued at approximately $3,797,121.35. This trade represents a 13.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $120,750.00. Following the completion of the sale, the chief financial officer now owns 110,253 shares in the company, valued at $8,875,366.50. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 180,000 shares of company stock valued at $15,163,420 in the last 90 days. 0.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Marvell Technology

Institutional investors have recently modified their holdings of the company. Davidson Kempner Capital Management LP boosted its stake in shares of Marvell Technology by 26.5% during the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock worth $17,482,000 after buying an additional 52,365 shares during the period. Braun Stacey Associates Inc. purchased a new position in Marvell Technology in the 3rd quarter valued at approximately $16,435,000. Charles Schwab Investment Management Inc. boosted its position in Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after purchasing an additional 66,654 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Marvell Technology by 23.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock valued at $206,418,000 after buying an additional 535,203 shares in the last quarter. Finally, Franchise Capital Ltd purchased a new position in Marvell Technology during the 4th quarter valued at about $1,476,000. 83.51% of the stock is 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.