Marvell Technology (NASDAQ:MRVL) Trading Down 2.9% – Time to Sell?

Marvell Technology, Inc. (NASDAQ:MRVL) shares traded down 2.9% on Wednesday . The stock traded as low as $90.40 and last traded at $90.45. 955,301 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 11,964,241 shares. The stock had previously closed at $93.14.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of research reports. Oppenheimer increased their target price on shares of Marvell Technology from $90.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday. Roth Mkm reiterated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Barclays raised their target price on Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. TD Cowen raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday, September 16th. Finally, Susquehanna boosted their price objective on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “positive” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.39.

Marvell Technology Stock Performance

The business’s fifty day simple moving average is $81.82 and its 200-day simple moving average is $74.05. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the company earned $0.18 EPS. Research analysts expect that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.27%. Marvell Technology’s dividend payout ratio (DPR) is -21.62%.

Insider Activity

In related news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the sale, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at $9,203,170.16. This trade represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ford Tamer sold 92,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the completion of the sale, the director now owns 351,193 shares of the company’s stock, valued at $26,044,472.88. This represents a 20.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 267,000 shares of company stock worth $20,899,260. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

A number of large investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC boosted its stake in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying an additional 326 shares during the last quarter. Quarry LP bought a new stake in Marvell Technology during the second quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL purchased a new stake in Marvell Technology during the second quarter valued at approximately $32,000. Whittier Trust Co. raised its position in Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 210 shares during the period. Finally, Goodman Advisory Group LLC purchased a new position in shares of Marvell Technology during the 3rd quarter worth $37,000. Institutional investors own 83.51% of the company’s stock.

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.