Marvell Technology (NASDAQ:MRVL) Stock Price Down 0.1% – Should You Sell?

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) dropped 0.1% during trading on Monday . The stock traded as low as $111.32 and last traded at $111.79. Approximately 2,998,172 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 12,687,920 shares. The stock had previously closed at $111.90.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MRVL shares. Craig Hallum raised their target price on shares of Marvell Technology from $88.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price objective on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Rosenblatt Securities upped their target price on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. B. Riley lifted their price target on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Loop Capital upped their price objective on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $119.76.

Marvell Technology Trading Up 1.7 %

The firm has a market capitalization of $98.46 billion, a price-to-earnings ratio of -66.93, a price-to-earnings-growth ratio of 4.03 and a beta of 1.46. The business’s 50 day moving average price is $93.92 and its 200-day moving average price is $78.32. 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 business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.21%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $120,750.00. Following the sale, the chief financial officer now directly owns 110,253 shares in the company, valued at $8,875,366.50. The trade was a 1.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total transaction of $177,075.00. Following the transaction, the executive vice president now owns 22,494 shares of the company’s stock, valued at $1,593,250.02. This trade represents a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 175,000 shares of company stock worth $14,444,745 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Oddo BHF Asset Management Sas purchased a new stake in Marvell Technology during the 3rd quarter worth about $10,944,000. Beaird Harris Wealth Management LLC grew its holdings in shares of Marvell Technology by 2,313.8% during the third quarter. Beaird Harris Wealth Management LLC now owns 700 shares of the semiconductor company’s stock worth $50,000 after buying an additional 671 shares in the last quarter. Peapack Gladstone Financial Corp raised its position in shares of Marvell Technology by 27.3% in the third quarter. Peapack Gladstone Financial Corp now owns 23,312 shares of the semiconductor company’s stock valued at $1,681,000 after buying an additional 5,005 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of Marvell Technology by 60.5% during the third quarter. Synovus Financial Corp now owns 6,489 shares of the semiconductor company’s stock valued at $468,000 after buying an additional 2,445 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Marvell Technology during the third quarter worth approximately $3,432,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Company Profile

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.