Marvell Technology (NASDAQ:MRVL) Shares Gap Down - Time to Sell?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) 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.

Analyst Ratings Changes

MRVL has been the subject of several recent research reports. Bank of America boosted their price target on Marvell Technology from $108.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Evercore ISI boosted their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the company an "outperform" rating in a research report on Monday, December 2nd. Cantor Fitzgerald upped their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. The Goldman Sachs Group lifted their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company increased their target price on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $127.88.

Marvell Technology Stock Down 19.3 %

The company has a market capitalization of $86.60 billion, a P/E ratio of -58.87, a PEG ratio of 4.12 and a beta of 1.41. 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 50 day moving average price of $110.34 and a 200 day moving average price of $86.64.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be issued a $0.06 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.24%. Marvell Technology's dividend payout ratio (DPR) is presently -14.12%.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the transaction, the executive vice president now owns 24,706 shares in the company, valued at approximately $2,791,778. This trade represents a 9.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of the company's stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the sale, the executive vice president now directly owns 93,931 shares in the company, 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 37,755 shares of company stock valued at $4,361,430 in the last ninety days. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Marvell Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in shares of Marvell Technology by 597.5% during the 2nd quarter. AQR Capital Management LLC now owns 437,771 shares of the semiconductor company's stock worth $30,600,000 after buying an additional 375,012 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Marvell Technology by 18.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,053,967 shares of the semiconductor company's stock worth $73,672,000 after acquiring an additional 164,250 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Marvell Technology by 30.8% during the second quarter. Mackenzie Financial Corp now owns 73,644 shares of the semiconductor company's stock worth $5,148,000 after acquiring an additional 17,342 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new stake in Marvell Technology in the second quarter worth $512,000. Finally, MidWestOne Financial Group Inc. increased its stake in Marvell Technology by 90.5% in the second quarter. MidWestOne Financial Group Inc. now owns 15,264 shares of the semiconductor company's stock valued at $1,067,000 after purchasing an additional 7,251 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.