Marvell Technology (NASDAQ:MRVL) Trading Down 2.4% – Time to Sell?

Marvell Technology, Inc. (NASDAQ:MRVL) was down 2.4% during mid-day trading on Thursday . The company traded as low as $90.75 and last traded at $92.61. Approximately 4,667,426 shares traded hands during trading, a decline of 64% from the average daily volume of 13,108,979 shares. The stock had previously closed at $94.90.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. TD Cowen boosted their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Oppenheimer boosted their target price on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Morgan Stanley reissued an “equal weight” rating on shares of Marvell Technology in a research note on Friday, February 14th. Finally, Citigroup increased their price target on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Trading Down 7.6 %

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 market capitalization of $75.84 billion, a PE ratio of -51.56, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The firm has a 50-day moving average price of $112.46 and a 200-day moving average price of $93.00.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.27%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 97,244 shares in the company, valued at $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock valued at $4,330,980 over the last three months. 0.33% of the stock is owned by corporate insiders.

Institutional Trading of Marvell Technology

Several institutional investors and hedge funds have recently modified their holdings of MRVL. Norges Bank purchased a new stake in Marvell Technology in the 4th quarter worth $1,138,354,000. GQG Partners LLC bought a new position in Marvell Technology in the 4th quarter valued at $802,410,000. Nuveen Asset Management LLC boosted its stake in shares of Marvell Technology by 232.2% during the fourth quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company’s stock valued at $1,033,859,000 after purchasing an additional 6,543,132 shares during the period. Wellington Management Group LLP increased its position in Marvell Technology by 43.1% during the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock valued at $1,374,252,000 after purchasing an additional 3,747,982 shares during the period. Finally, Invesco Ltd. lifted its holdings in Marvell Technology by 30.1% during the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock worth $1,784,649,000 after buying an additional 3,737,705 shares during the period. 83.51% of the stock is currently owned by institutional investors.

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.