Marvell Technology (NASDAQ:MRVL) Shares Down 0.2% – Should You Sell?

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price fell 0.2% during trading on Tuesday . The company traded as low as $110.82 and last traded at $111.48. 1,019,415 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 12,560,738 shares. The stock had previously closed at $111.66.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MRVL. JPMorgan Chase & Co. increased their target price on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. The Goldman Sachs Group upped their target price on Marvell Technology from $87.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Morgan Stanley raised their price target on shares of Marvell Technology from $102.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Piper Sandler reiterated an “overweight” rating and issued a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $125.00 price objective (up previously from $114.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.76.

Marvell Technology Trading Down 0.4 %

The business’s fifty day simple moving average is $98.05 and its two-hundred day simple moving average is $80.18. 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 $96.27 billion, a P/E ratio of -65.45, a P/E/G ratio of 4.03 and a beta of 1.46.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.22%. Marvell Technology’s dividend payout ratio is -14.12%.

Insiders Place Their Bets

In related news, 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 value of $735,000.00. Following the sale, the executive vice president now owns 97,244 shares of the company’s stock, valued at $11,912,390. The trade was a 5.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $120,750.00. Following the transaction, the chief financial officer now owns 110,253 shares of the company’s stock, valued at $8,875,366.50. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 172,500 shares of company stock worth $14,267,670. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Marvell Technology

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