Marvell Technology (NASDAQ:MRVL) Stock Price Down 2.4% – Should You Sell?

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

Wall Street Analyst Weigh In

Several research firms have recently commented on MRVL. Morgan Stanley reaffirmed an “equal weight” rating on shares of Marvell Technology in a report on Friday, February 14th. Benchmark restated a “buy” rating and issued a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. The Goldman Sachs Group upped their target price on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. KeyCorp upped their price objective on shares of Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Susquehanna lifted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Trading Down 7.6 %

The company has a market cap 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 company’s 50 day simple moving average is $112.46 and its two-hundred day simple moving average is $93.00. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Dividend Announcement

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

Insider Transactions at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the sale, the chief operating officer now directly owns 87,931 shares in the company, valued at $9,351,461.85. This represents a 6.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,255 shares of company stock worth $4,330,980 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. Intrepid Financial Planning Group LLC boosted its holdings in shares of Marvell Technology by 0.3% in the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock valued at $2,860,000 after acquiring an additional 90 shares in the last quarter. PDS Planning Inc increased its stake in shares of Marvell Technology by 3.3% during the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock worth $319,000 after purchasing an additional 92 shares in the last quarter. Lodestone Wealth Management LLC lifted its position in shares of Marvell Technology by 2.0% in the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after acquiring an additional 93 shares in the last quarter. Valley National Advisers Inc. boosted its stake in shares of Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after purchasing an additional 96 shares during the last quarter. Finally, Private Trust Co. NA grew its stake in Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after acquiring an additional 97 shares during the period. Hedge funds and other 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.