Marvell Technology (NASDAQ:MRVL) Shares Down 1.5% – What’s Next?

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price traded down 1.5% during trading on Monday . The company traded as low as $57.74 and last traded at $58.02. 2,731,476 shares were traded during mid-day trading, a decline of 80% from the average session volume of 13,585,314 shares. The stock had previously closed at $58.92.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MRVL. Benchmark reissued a “buy” rating and issued a $135.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Wells Fargo & Company reiterated an “overweight” rating on shares of Marvell Technology in a research report on Thursday, March 6th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Piper Sandler dropped their price objective on 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, Craig Hallum upped their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Three equities 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. According to data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus price target of $114.56.

Marvell Technology Stock Down 1.8 %

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’s 50 day simple moving average is $68.53 and its 200 day simple moving average is $90.83. The stock has a market capitalization of $50.10 billion, a P/E ratio of -34.03, a P/E/G ratio of 1.61 and a beta of 1.78.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is currently -23.53%.

Insider Buying and Selling

In related news, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Brad W. Buss acquired 3,000 shares of Marvell Technology stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $69.00 per share, with a total value of $207,000.00. Following the acquisition, the director now owns 87,113 shares of the company’s stock, 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. In the last three months, insiders sold 27,390 shares of company stock valued at $1,937,938. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Invesco Ltd. raised its stake in shares of Marvell Technology by 30.1% in the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock worth $1,784,649,000 after purchasing an additional 3,737,705 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Marvell Technology by 6.9% in the 4th quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company’s stock worth $1,462,274,000 after purchasing an additional 857,087 shares during the period. Wellington Management Group LLP boosted its stake in Marvell Technology by 43.1% during the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock valued at $1,374,252,000 after buying an additional 3,747,982 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Marvell Technology by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock worth $1,263,755,000 after acquiring an additional 80,005 shares during the last quarter. Finally, Norges Bank bought a new position in Marvell Technology during the fourth quarter valued at approximately $1,138,354,000. 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.