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

Marvell Technology, Inc. (NASDAQ:MRVL) gapped down before the market opened on Tuesday . The stock had previously closed at $113.56, but opened at $107.88. Marvell Technology shares last traded at $109.52, with a volume of 4,282,562 shares.

Analyst Ratings Changes

MRVL has been the subject of a number of recent analyst reports. Rosenblatt Securities raised their price target on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. TD Cowen increased their price objective on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Barclays increased their price objective on shares of Marvell Technology from $115.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. B. Riley increased their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, UBS Group raised their price target on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Price Performance

The company’s 50 day moving average is $112.15 and its 200 day moving average is $87.97. 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 capitalization of $94.82 billion, a price-to-earnings ratio of -64.31, a price-to-earnings-growth ratio of 3.71 and a beta of 1.40.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a $0.06 dividend. 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 presently -14.12%.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the transaction, the executive vice president now directly owns 103,244 shares in the company, valued at $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Marvell Technology

Institutional investors have recently modified their holdings of the company. Zweig DiMenna Associates LLC raised its position in shares of Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after buying an additional 12,700 shares during the last quarter. Berbice Capital Management LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth $637,000. RFG Advisory LLC boosted its holdings in Marvell Technology by 6.2% in the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after acquiring an additional 2,507 shares during the last quarter. Braun Stacey Associates Inc. purchased a new stake in Marvell Technology during the third quarter valued at about $16,435,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Marvell Technology by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after purchasing an additional 66,654 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.