Marvell Technology (NASDAQ:MRVL) Trading Down 0.8% on Analyst Downgrade

Marvell Technology, Inc. (NASDAQ:MRVL)’s stock price was down 0.8% during trading on Thursday 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 $51.09 and last traded at $51.52. Approximately 3,472,737 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 13,456,506 shares. The stock had previously closed at $51.93.

A number of other research analysts have also recently commented on MRVL. Morgan Stanley dropped their price target on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Bank of America dropped their target price on Marvell Technology from $120.00 to $72.00 and set a “buy” rating for the company in a research report on Wednesday. Loop Capital upgraded Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a report on Thursday, March 6th. Roth Capital set a $100.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Finally, Raymond James set a $110.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $116.41.

Insider Buying and Selling

In other news, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares in the company, valued at approximately $2,138,125. This represents a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were 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 owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. This represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,930 shares of company stock valued at $1,999,038 over the last ninety days. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marvell Technology

Several hedge funds and other institutional investors have recently modified their holdings of the company. WD Rutherford LLC grew its position in Marvell Technology by 25.0% in the 1st quarter. WD Rutherford LLC now owns 31,447 shares of the semiconductor company’s stock valued at $1,936,000 after purchasing an additional 6,289 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Marvell Technology by 82.4% in the first quarter. QRG Capital Management Inc. now owns 70,127 shares of the semiconductor company’s stock valued at $4,318,000 after buying an additional 31,676 shares in the last quarter. Sagespring Wealth Partners LLC grew its holdings in shares of Marvell Technology by 9.5% during the first quarter. Sagespring Wealth Partners LLC now owns 4,093 shares of the semiconductor company’s stock valued at $252,000 after buying an additional 355 shares during the last quarter. Brighton Jones LLC increased its position in shares of Marvell Technology by 15.8% during the first quarter. Brighton Jones LLC now owns 10,980 shares of the semiconductor company’s stock worth $676,000 after acquiring an additional 1,501 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in shares of Marvell Technology by 215.5% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 109,121 shares of the semiconductor company’s stock worth $6,719,000 after acquiring an additional 74,530 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Down 0.4 %

The company has a market cap of $44.78 billion, a price-to-earnings ratio of -30.41, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. 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’s fifty day moving average is $74.86 and its two-hundred day moving average is $91.36.

Marvell Technology Dividend Announcement

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

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.