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

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $61.22, but opened at $55.16. Marvell Technology shares last traded at $55.02, with a volume of 13,921,756 shares traded.

Wall Street Analysts Forecast Growth

MRVL has been the topic of several research reports. Melius Research raised Marvell Technology to a "strong-buy" rating in a research report on Monday, January 27th. William Blair upgraded shares of Marvell Technology to a "strong-buy" rating in a report on Wednesday, February 5th. Loop Capital raised Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 target price on the stock in a report on Thursday, March 6th. Cantor Fitzgerald lowered shares of Marvell Technology from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $125.00 to $60.00 in a research note on Wednesday. Finally, TD Cowen dropped their target price on shares of Marvell Technology from $125.00 to $95.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $111.78.

Marvell Technology Price Performance

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 50 day simple moving average is $63.04 and its 200-day simple moving average is $89.85. The firm has a market cap of $47.61 billion, a price-to-earnings ratio of -32.48, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Friday, April 11th. Marvell Technology's dividend payout ratio is currently -23.53%.

Insiders Place Their Bets

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the transaction, the chief accounting officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 12,460 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,890 shares of company stock worth $2,027,938. Company insiders own 0.33% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MRVL. Synovus Financial Corp lifted its position in Marvell Technology by 60.5% in the third quarter. Synovus Financial Corp now owns 6,489 shares of the semiconductor company's stock valued at $468,000 after buying an additional 2,445 shares during the last quarter. Diversified Trust Co raised its stake in shares of Marvell Technology by 5.2% in the 4th quarter. Diversified Trust Co now owns 9,414 shares of the semiconductor company's stock valued at $1,040,000 after acquiring an additional 464 shares during the period. Regent Peak Wealth Advisors LLC acquired a new position in shares of Marvell Technology in the 4th quarter worth approximately $200,000. Michael S. Ryan Inc. purchased a new position in shares of Marvell Technology during the 4th quarter worth approximately $274,000. Finally, ORG Partners LLC raised its position in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 149 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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.

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