Marvell Technology (NASDAQ:MRVL) Shares Down 0.7% – Time to Sell?

Marvell Technology, Inc. (NASDAQ:MRVL) shares were down 0.7% during trading on Tuesday . The company traded as low as $109.85 and last traded at $111.98. Approximately 2,741,958 shares traded hands during trading, a decline of 79% from the average daily volume of 12,968,942 shares. The stock had previously closed at $112.80.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MRVL shares. Rosenblatt Securities raised their price target on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Cantor Fitzgerald raised their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. TD Cowen upped 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. Wells Fargo & Company raised their price objective on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Barclays lifted their price objective on Marvell Technology from $115.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Three equities research 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 company’s stock. Based on data from MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Stock Down 2.9 %

The stock has a fifty day moving average of $114.26 and a two-hundred day moving average of $89.63. 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 stock has a market cap of $94.73 billion, a price-to-earnings ratio of -64.43, a PEG ratio of 1.77 and a beta of 1.40.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is currently -14.12%.

Insider Buying and Selling

In other news, EVP Mark Casper sold 7,755 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the sale, the executive vice president now owns 93,931 shares in the company, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Marvell Technology

Large investors have recently bought and sold shares of the company. Brookstone Capital Management acquired a new stake in Marvell Technology during the 3rd quarter valued at $216,000. CWM LLC grew its stake in shares of Marvell Technology by 17.6% during the third quarter. CWM LLC now owns 25,122 shares of the semiconductor company’s stock valued at $1,812,000 after acquiring an additional 3,760 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Marvell Technology by 265.2% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,691 shares of the semiconductor company’s stock worth $483,000 after acquiring an additional 4,859 shares during the last quarter. Valeo Financial Advisors LLC lifted its stake in shares of Marvell Technology by 9.3% in the third quarter. Valeo Financial Advisors LLC now owns 10,757 shares of the semiconductor company’s stock worth $776,000 after acquiring an additional 917 shares in the last quarter. Finally, Inspire Investing LLC boosted its holdings in Marvell Technology by 5.6% in the third quarter. Inspire Investing LLC now owns 3,981 shares of the semiconductor company’s stock valued at $287,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds 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.