Marvell Technology (NASDAQ:MRVL) Shares Down 0.3% – Should You Sell?

Marvell Technology, Inc. (NASDAQ:MRVL) traded down 0.3% on Thursday . The company traded as low as $114.11 and last traded at $115.55. 1,812,985 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 12,638,825 shares. The stock had previously closed at $115.95.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MRVL shares. Susquehanna raised their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Citigroup boosted their price objective on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Benchmark reissued a “buy” rating and issued a $135.00 target price (up previously from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Finally, StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.76.

Marvell Technology Trading Down 1.8 %

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 market capitalization of $98.32 billion, a price-to-earnings ratio of -66.83, a PEG ratio of 4.03 and a beta of 1.46. The firm has a 50-day moving average price of $96.78 and a 200-day moving average price of $79.49.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Insider Buying and Selling

In other news, insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the transaction, the insider now owns 694,487 shares in the company, valued at $55,906,203.50. This represents a 17.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total transaction of $177,075.00. Following the completion of the sale, the executive vice president now owns 22,494 shares of the company’s stock, valued at approximately $1,593,250.02. The trade was a 10.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 175,000 shares of company stock worth $14,444,745. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

A number of institutional investors have recently bought and sold shares of MRVL. State Street Corp lifted its stake 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 valued at $1,438,336,000 after purchasing an additional 68,893 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of 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 increased its position in shares of 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 purchasing an additional 219,692 shares during the period. Wellington Management Group LLP increased its holdings in Marvell Technology by 4.3% in the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after buying an additional 359,005 shares during the period. Finally, Van ECK Associates Corp raised its position in Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after purchasing an additional 1,570,050 shares in the last quarter. Institutional investors and hedge funds 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.