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

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price gapped down before the market opened on Monday . The stock had previously closed at $124.02, but opened at $108.03. Marvell Technology shares last traded at $106.31, with a volume of 10,087,632 shares traded.

Wall Street Analysts Forecast Growth

MRVL has been the topic of several recent analyst reports. Citigroup increased their target price on Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley increased their price target on shares of Marvell Technology from $102.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Loop Capital boosted their price objective on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Susquehanna lifted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus upped their price objective on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus price target of $127.88.

Marvell Technology Price Performance

The stock has a market cap of $90.65 billion, a price-to-earnings ratio of -61.57, a PEG ratio of 4.12 and a beta of 1.41. The company’s 50 day moving average is $110.11 and its 200 day moving average is $86.44. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insider Activity at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the transaction, the executive vice president now owns 103,244 shares of the company’s stock, valued at $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,755 shares of company stock valued at $4,361,430 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Institutional investors have recently made changes to their positions in the stock. True Wealth Design LLC increased its position in Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares in the last quarter. ORG Partners LLC raised its holdings in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Marvell Technology during the 2nd quarter worth $32,000. Quarry LP acquired a new stake in shares of Marvell Technology during the second quarter worth $32,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Marvell Technology in the fourth quarter valued at $33,000. 83.51% of the stock is owned by institutional investors and hedge funds.

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.