Marvell Technology (NASDAQ:MRVL) Shares Down 7.9% - Here's What Happened

On Monday, shares of Marvell Technology, Inc. (NASDAQ:MRVL) fell by 7.9%. The stock reached a low of $64.47 before closing at $65.24. During the trading session, around 7,053,969 shares changed hands, representing a significant drop of 44% compared to the average volume of approximately 12,660,595 shares. Previously, the stock closed at $70.84.

Analysts Set New Price Targets

Recently, several brokerages have provided updated opinions on Marvell Technology. Barclays reduced its price target from $150.00 to $130.00, maintaining an "overweight" rating. Similarly, TD Cowen lowered its target from $125.00 to $95.00 while still giving the stock a "buy" rating. StockNews.com upgraded the stock from a "sell" to a "hold" rating on January 9th. Meanwhile, JPMorgan Chase & Co. raised its price target from $90.00 to $130.00 with an "overweight" rating. Additionally, Roth Capital set a price objective of $100.00. Currently, three analysts suggest holding the stock, twenty-four recommend buying, and two believe it is a strong buy. The consensus rating on the stock is "Moderate Buy," with an average price target of $120.44.

Marvell Technology Stock Performance

Marvell Technology has a market capitalization of $56.82 billion, with a P/E ratio of -38.63 and a PEG ratio of 1.61. The company's beta is 1.42, indicating a higher volatility compared to the market. Its 50-day moving average stands at $108.27, while the 200-day moving average is $94.00. Additionally, Marvell Technology has a current ratio of 1.60 and a quick ratio of 1.11, signifying good short-term financial health, with a debt-to-equity ratio of 0.30.

Marvell Technology Announces Dividend

Marvell Technology has also declared a quarterly dividend, which was paid on January 30th. Shareholders on record as of January 10th received a dividend of $0.06 per share, resulting in an annualized dividend of $0.24 and a yield of 0.37%. The company's payout ratio is -23.53%.

Insider Buying and Selling at Marvell Technology

On February 18th, COO Chris Koopmans sold 6,000 shares at an average price of $106.35, totaling about $638,100.00. Likewise, CFO Willem A. Meintjes sold 1,500 shares on December 16th for $183,750.00 at an average price of $122.50. Following these transactions, both executives still maintain significant holdings in the company, though they have decreased their ownership percentages. In total, 36,255 shares were sold by insiders in the past three months, worth approximately $4,330,980.

Institutional Investors Weigh In On Marvell Technology

Several institutional investors have recently changed their positions in Marvell Technology. Intrepid Financial Planning Group LLC increased its stake by 0.3% during the last quarter. PDS Planning Inc also raised its holdings by 3.3%, and other firms like Lodestone Wealth Management LLC and Valley National Advisers Inc have made slight increases as well. Currently, institutional investors collectively hold 83.51% of the company's shares.

Marvell Technology Company Profile

Marvell Technology, Inc. offers semiconductor solutions for data infrastructure, spanning from data center cores to network edges. They develop complex System-on-a-Chip architectures incorporating various functionalities, such as analog and digital signal processing.

Should You Invest in Marvell Technology Now?

Before deciding to invest in Marvell Technology, it's worth noting that while the stock maintains a Buy rating among analysts, other stocks have gained more attention for their potential. Research suggests investors look into five specific stocks that top analysts are recommending currently.

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