Marvell Technology (NASDAQ:MRVL) Trading Down 0.1% – Time to Sell?

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price fell 0.1% on Wednesday . The company traded as low as $61.46 and last traded at $62.58. 1,919,399 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 12,893,840 shares. The stock had previously closed at $62.67.

Wall Street Analyst Weigh In

MRVL has been the topic of several recent analyst reports. Needham & Company LLC reduced their target price on Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Oppenheimer lifted their target price on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Summit Insights lowered shares of Marvell Technology from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. B. Riley boosted their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley lowered their price target on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

Marvell Technology Trading Up 2.4 %

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 company has a fifty day moving average price of $91.56 and a two-hundred day moving average price of $93.58. The firm has a market capitalization of $55.58 billion, a price-to-earnings ratio of -37.75, a PEG ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s payout ratio is currently -23.53%.

Insider Transactions at Marvell Technology

In other news, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction that occurred 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 sale, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the transaction, the executive vice president now owns 24,706 shares of the company’s stock, valued at $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,685 shares of company stock worth $4,026,768 in the last quarter. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Centricity Wealth Management LLC acquired a new position in Marvell Technology in the 4th quarter valued at about $26,000. ORG Partners LLC boosted its position in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares during the period. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology in the fourth quarter worth $27,000. Kieckhefer Group LLC acquired a new position in shares of Marvell Technology in the fourth quarter worth $33,000. Finally, Financial Life Planners purchased a new stake in shares of Marvell Technology during the fourth quarter worth $33,000. 83.51% of the stock is currently owned by hedge funds and other 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.