Marvell Technology (NASDAQ:MRVL) Stock Price Down 4.3% – Should You Sell?

Marvell Technology, Inc. (NASDAQ:MRVL) was down 4.3% during trading on Friday . The stock traded as low as $62.26 and last traded at $62.07. Approximately 4,150,054 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 12,561,218 shares. The stock had previously closed at $64.86.

Analyst Upgrades and Downgrades

MRVL has been the topic of a number of research reports. Cantor Fitzgerald lifted their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. B. Riley lifted their price objective on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. raised their target price on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, TD Cowen dropped their target price on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Stock Performance

The company has a market cap of $53.58 billion, a P/E ratio of -36.38, a P/E/G ratio of 1.61 and a beta of 1.42. 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 business has a fifty day simple moving average of $95.30 and a two-hundred day simple moving average of $93.52.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.39%. Marvell Technology’s dividend payout ratio is currently -23.53%.

Insider Transactions at Marvell Technology

In other news, CAO Panteha Dixon sold 1,430 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at $2,138,125. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the transaction, the executive vice president now directly owns 24,706 shares in the company, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,685 shares of company stock worth $4,026,768 in the last 90 days. 0.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Marvell Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cerity Partners LLC raised its position in shares of Marvell Technology by 84.3% during the 3rd quarter. Cerity Partners LLC now owns 61,016 shares of the semiconductor company’s stock valued at $4,401,000 after purchasing an additional 27,902 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Marvell Technology during the third quarter valued at about $516,000. D.A. Davidson & CO. lifted its position in shares of Marvell Technology by 8.5% in the third quarter. D.A. Davidson & CO. now owns 60,056 shares of the semiconductor company’s stock valued at $4,331,000 after acquiring an additional 4,718 shares in the last quarter. Townsquare Capital LLC boosted its stake in shares of Marvell Technology by 54.9% in the third quarter. Townsquare Capital LLC now owns 11,669 shares of the semiconductor company’s stock worth $842,000 after acquiring an additional 4,136 shares during the period. Finally, Blueshift Asset Management LLC purchased a new stake in shares of Marvell Technology during the third quarter worth about $215,000. 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.