Marvell Technology (NASDAQ:MRVL) Stock Price Down 4.5% – Time to Sell?

Marvell Technology, Inc. (NASDAQ:MRVL)’s stock price fell 4.5% on Tuesday . The company traded as low as $92.15 and last traded at $93.52. 8,274,662 shares traded hands during trading, a decline of 36% from the average session volume of 12,867,187 shares. The stock had previously closed at $97.91.

Analyst Ratings Changes

Several research firms have recently commented on MRVL. JPMorgan Chase & Co. boosted their target price on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Melius initiated coverage on Marvell Technology in a research report on Monday, January 27th. They set a “buy” rating and a $188.00 target price on the stock. Citigroup increased their price target on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley restated an “equal weight” rating on shares of Marvell Technology in a research report on Friday, February 14th. Finally, Susquehanna lifted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating 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 given a strong buy rating to the company. Based on data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Stock Performance

The company has a market capitalization of $80.74 billion, a price-to-earnings ratio of -54.74, a PEG ratio of 1.61 and a beta of 1.40. The stock has a fifty day moving average price of $113.05 and a two-hundred day moving average price of $92.76. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. Marvell Technology’s payout ratio is -14.12%.

Insider Activity at Marvell Technology

In related news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 24,706 shares in the company, valued at approximately $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the transaction, the chief operating officer now directly owns 87,931 shares in the company, valued at approximately $9,351,461.85. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. True Wealth Design LLC grew its holdings in Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares in the last quarter. ORG Partners LLC grew its stake in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Marvell Technology during the fourth quarter worth about $26,000. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology in the fourth quarter worth about $27,000. Finally, Kieckhefer Group LLC purchased a new position in Marvell Technology in the fourth quarter valued at about $33,000. 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.