Marvell Technology (NASDAQ:MRVL) Shares Down 1% – Time to Sell?

Marvell Technology, Inc. (NASDAQ:MRVL) shares traded down 1% on Tuesday . The company traded as low as $72.00 and last traded at $72.04. 2,128,457 shares changed hands during trading, a decline of 83% from the average session volume of 12,600,111 shares. The stock had previously closed at $72.76.

Analyst Upgrades and Downgrades

A number of analysts have commented on MRVL shares. Roth Capital set a $100.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Benchmark reiterated a “buy” rating and issued a $135.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Stifel Nicolaus lowered their price target on Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Finally, Summit Insights lowered shares of Marvell Technology from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Price Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The company has a fifty day moving average price of $98.21 and a two-hundred day moving average price of $93.87. The company has a market cap of $61.84 billion, a P/E ratio of -42.08, a PEG ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is -23.53%.

Insider Activity

In related news, Director Michael G. Strachan sold 5,000 shares of Marvell Technology stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the completion of the transaction, the director now owns 30,959 shares in the company, valued at approximately $3,797,121.35. This trade represents a 13.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,685 shares of company stock valued at $4,026,768. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Marvell Technology

Large investors have recently added to or reduced their stakes in the business. True Wealth Design LLC lifted its stake in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying an additional 326 shares during the last quarter. ORG Partners LLC lifted its position in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Marvell Technology during the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology in the fourth quarter valued at approximately $27,000. Finally, Kieckhefer Group LLC bought a new position in shares of Marvell Technology during the fourth quarter worth approximately $33,000. 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.