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

Marvell Technology, Inc. (NASDAQ:MRVL) shares traded down 2.9% during trading on Friday . The company traded as low as $113.64 and last traded at $114.75. 2,975,536 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 9,616,507 shares. The stock had previously closed at $118.17.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. 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. B. Riley lifted their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Barclays increased their price objective on shares of Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Stifel Nicolaus lifted their target price on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday. Finally, TD Cowen lifted their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and an average price target of $121.28.

Marvell Technology Stock Performance

The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average price of $103.34 and a 200 day moving average price of $82.45. The stock has a market cap of $99.62 billion, a PE ratio of -67.72, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41.

Marvell Technology Dividend Announcement

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

Insider Transactions at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the sale, the executive vice president now owns 109,244 shares of the company’s stock, valued at $8,823,637.88. This trade represents a 5.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $120,750.00. Following the completion of 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 180,000 shares of company stock valued at $15,163,420. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

A number of large investors have recently made changes to their positions in the business. Citizens Financial Group Inc. RI raised its position in shares of Marvell Technology by 1.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock valued at $566,000 after purchasing an additional 116 shares during the last quarter. Crumly & Associates Inc. raised its holdings in shares of Marvell Technology by 1.5% in the third quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock worth $593,000 after buying an additional 121 shares during the last quarter. United Capital Management of KS Inc. lifted its stake in shares of Marvell Technology by 0.4% during the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock worth $2,470,000 after buying an additional 131 shares during the period. Integrated Wealth Concepts LLC grew its holdings in shares of Marvell Technology by 1.4% during the third quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock valued at $716,000 after buying an additional 139 shares during the last quarter. Finally, ASB Consultores LLC increased its position in shares of Marvell Technology by 3.8% in the 3rd quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock valued at $276,000 after acquiring an additional 140 shares during the period. 83.51% of the stock is 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.