Marvell Technology (NASDAQ:MRVL) Trading Down 2.2% – Should You Sell?

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) traded down 2.2% during trading on Friday . The stock traded as low as $111.39 and last traded at $113.19. 2,101,529 shares traded hands during trading, a decline of 83% from the average session volume of 12,615,259 shares. The stock had previously closed at $115.71.

Analysts Set New Price Targets

MRVL has been the topic of several research analyst reports. Loop Capital increased their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. B. Riley increased their target price on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Citigroup boosted their price target on Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company increased their price objective on Marvell Technology from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their target price on shares of Marvell Technology from $87.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.76.

Marvell Technology Stock Performance

The company’s 50 day moving average is $96.78 and its 200 day moving average is $79.49. The firm has a market cap of $97.82 billion, a P/E ratio of -66.50, a P/E/G ratio of 4.03 and a beta of 1.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Dividend Announcement

The company 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 dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insiders Place Their Bets

In other news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total transaction of $177,075.00. Following the completion of the transaction, the executive vice president now owns 22,494 shares of the company’s stock, valued at approximately $1,593,250.02. This trade represents a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the sale, the executive vice president now directly owns 97,244 shares in the company, valued at approximately $11,912,390. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 175,000 shares of company stock valued at $14,444,745 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its position in shares of Marvell Technology by 0.3% in the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after purchasing an additional 68,893 shares during the period. Ameriprise Financial Inc. lifted its holdings in Marvell Technology by 24.1% in the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after buying an additional 2,254,610 shares during the period. Geode Capital Management LLC boosted its position in Marvell Technology by 2.0% during the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock valued at $818,916,000 after acquiring an additional 219,692 shares during the last quarter. Wellington Management Group LLP grew its holdings in Marvell Technology by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock worth $627,034,000 after acquiring an additional 359,005 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of Marvell Technology by 26.6% in the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after acquiring an additional 1,570,050 shares in the last quarter. 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.