Marvell Technology (NASDAQ:MRVL) Stock Price Down 0.4% on Analyst Downgrade

by · The Markets Daily

Marvell Technology, Inc. (NASDAQ:MRVL – Get Free Report) was down 0.4% during trading on Friday after Stifel Nicolaus lowered their price target on the stock from $115.00 to $80.00. Stifel Nicolaus currently has a buy rating on the stock. Marvell Technology traded as low as $50.79 and last traded at $51.70. Approximately 12,265,764 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 13,505,006 shares. The stock had previously closed at $51.93.

MRVL has been the topic of a number of other reports. KeyCorp cut their price target on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Craig Hallum increased 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. Bank of America decreased their price target on shares of Marvell Technology from $120.00 to $72.00 and set a “buy” rating for the company in a report on Wednesday. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, Melius assumed coverage on Marvell Technology in a report on Monday, January 27th. They issued a “buy” rating and a $188.00 price target for the company. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $116.41.

View Our Latest Stock Analysis on Marvell Technology

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the sale, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Brad W. Buss bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the acquisition, the director now directly owns 87,113 shares in the company, valued at $6,010,797. The trade was a 3.57 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 20,930 shares of company stock worth $1,999,038. Insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. ORG Partners LLC boosted its holdings in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares during the period. Centricity Wealth Management LLC acquired a new stake in Marvell Technology during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new stake in Marvell Technology in the 4th quarter valued at $27,000. Kieckhefer Group LLC acquired a new position in Marvell Technology in the 4th quarter valued at $33,000. Finally, Financial Life Planners bought a new position in Marvell Technology during the 4th quarter worth $33,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Down 0.4 %

The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average price of $74.86 and a two-hundred day moving average price of $91.36. The company has a market cap of $44.78 billion, a price-to-earnings ratio of -30.41, a P/E/G ratio of 1.61 and a beta of 1.78.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.46%. Marvell Technology’s payout ratio is presently -23.53%.

About Marvell Technology

(Get Free Report)

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.

Further Reading