Marvell Technology (NASDAQ:MRVL) Stock Price Down 2.3% – Time to Sell?

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) traded down 2.3% during trading on Friday . The stock traded as low as $106.63 and last traded at $106.25. 1,505,087 shares were traded during trading, a decline of 88% from the average session volume of 12,607,666 shares. The stock had previously closed at $108.71.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Craig Hallum boosted their price objective on Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a report on Monday, January 6th. Bank of America lifted their target price on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price target on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Barclays lifted their price objective on shares of Marvell Technology from $115.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Benchmark reiterated a “buy” rating and set a $135.00 target price (up previously from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Three equities 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. According to MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Stock Down 5.5 %

The firm has a market capitalization of $88.87 billion, a P/E ratio of -60.41, a PEG ratio of 1.64 and a beta of 1.40. The firm’s fifty day moving average price is $113.93 and its 200-day moving average price is $91.69. 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 company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.23%. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insiders Place Their Bets

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the transaction, the executive vice president now owns 97,244 shares in the company, valued at approximately $11,912,390. The trade was a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the transaction, the executive vice president now directly owns 24,706 shares in the company, valued at $2,791,778. This represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marvell Technology

A number of hedge funds and other institutional investors have recently modified their holdings of MRVL. Exchange Traded Concepts LLC increased its position in shares of Marvell Technology by 125.4% in the third quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 336 shares in the last quarter. Creative Planning boosted its stake in Marvell Technology by 37.5% in the 3rd quarter. Creative Planning now owns 103,740 shares of the semiconductor company’s stock worth $7,482,000 after purchasing an additional 28,286 shares during the period. Swedbank AB grew its position in Marvell Technology by 1.0% during the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock worth $170,037,000 after purchasing an additional 23,680 shares in the last quarter. Whittier Trust Co. raised its stake in Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Marvell Technology by 26.6% in the third quarter. Sequoia Financial Advisors LLC now owns 15,072 shares of the semiconductor company’s stock valued at $1,087,000 after purchasing an additional 3,171 shares in the last quarter. Institutional investors and hedge funds 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.