Marvell Technology (NASDAQ:MRVL) Stock Price Down 4.4% – Time to Sell?

Marvell Technology, Inc. (NASDAQ:MRVL) fell 4.4% during trading on Wednesday . The stock traded as low as $67.24 and last traded at $68.53. 5,568,218 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 12,561,598 shares. The stock had previously closed at $71.67.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MRVL shares. Melius began coverage on shares of Marvell Technology in a research note on Monday, January 27th. They set a “buy” rating and a $188.00 target price on the stock. Summit Insights downgraded Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Rosenblatt Securities restated a “buy” rating and set a $140.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Cantor Fitzgerald increased their price objective on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. 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 issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $120.44.

Marvell Technology Stock Performance

The firm has a market capitalization of $53.73 billion, a PE ratio of -36.49, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The business’s 50 day simple moving average is $95.30 and its two-hundred day simple moving average is $93.52.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the sale, the executive vice president now directly owns 93,931 shares in the company, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at $2,791,778. The trade was a 9.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,685 shares of company stock valued at $4,026,768. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

A number of hedge funds have recently made changes to their positions in MRVL. State Street Corp boosted its stake in Marvell Technology by 0.3% in the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after purchasing an additional 68,893 shares during the period. Invesco Ltd. boosted its position in shares of Marvell Technology by 30.1% during the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock worth $1,784,649,000 after acquiring an additional 3,737,705 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Marvell Technology by 6.9% during the fourth quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company’s stock worth $1,462,274,000 after acquiring an additional 857,087 shares during the last quarter. Wellington Management Group LLP grew its stake in Marvell Technology by 43.1% during the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock valued at $1,374,252,000 after acquiring an additional 3,747,982 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Marvell Technology by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock valued at $1,263,755,000 after acquiring an additional 80,005 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

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.