Marvell Technology (NASDAQ:MRVL) Shares Down 5.4% – What’s Next?

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) were down 5.4% during trading on Friday . The company traded as low as $111.65 and last traded at $112.76. Approximately 9,019,166 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 12,985,563 shares. The stock had previously closed at $119.24.

Analysts Set New Price Targets

MRVL has been the topic of several recent analyst reports. Citigroup lifted their price target on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Susquehanna boosted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. Bank of America raised their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Rosenblatt Securities upped their target price on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Melius Research upgraded Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Trading Down 7.2 %

The firm has a market capitalization of $95.72 billion, a P/E ratio of -65.07, a P/E/G ratio of 3.71 and a beta of 1.40. 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 50 day simple moving average of $113.59 and a 200-day simple moving average of $88.68.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the sale, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael G. Strachan sold 5,000 shares of Marvell Technology stock in a transaction on Monday, January 6th. The shares were sold at an average price of $122.65, for a total transaction of $613,250.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock valued at $4,361,430 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MRVL. Independent Advisor Alliance lifted its position in shares of Marvell Technology by 83.8% in the fourth quarter. Independent Advisor Alliance now owns 29,780 shares of the semiconductor company’s stock worth $3,289,000 after buying an additional 13,582 shares in the last quarter. Marvin & Palmer Associates Inc. purchased a new stake in shares of Marvell Technology during the 4th quarter worth approximately $2,662,000. Daiwa Securities Group Inc. raised its holdings in shares of Marvell Technology by 1.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 135,412 shares of the semiconductor company’s stock worth $14,956,000 after acquiring an additional 1,895 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Marvell Technology by 3.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 193,389 shares of the semiconductor company’s stock valued at $21,360,000 after acquiring an additional 5,722 shares during the last quarter. Finally, Mount Lucas Management LP bought a new stake in shares of Marvell Technology in the 4th quarter worth about $773,000. 83.51% of the stock is owned by hedge funds and other 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.