Marvell Technology (NASDAQ:MRVL) Stock Price Down 5% – Should You Sell?

Marvell Technology, Inc. (NASDAQ:MRVL) dropped 5% on Monday . The company traded as low as $48.69 and last traded at $49.11. Approximately 3,315,170 shares traded hands during trading, a decline of 81% from the average daily volume of 17,280,639 shares. The stock had previously closed at $51.70.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Summit Insights downgraded Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Melius Research upgraded Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $140.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Finally, Stifel Nicolaus reduced their price objective on shares of Marvell Technology from $115.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday. 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.41.

Marvell Technology Trading Down 6.9 %

The business’s 50-day simple moving average is $73.72 and its 200-day simple moving average is $91.50. The company has a market cap of $41.69 billion, a PE ratio of -28.32, a P/E/G ratio of 1.61 and a beta of 1.78. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.50%. Marvell Technology’s payout ratio is -23.53%.

Insiders Place Their Bets

In related news, CAO Panteha Dixon sold 1,430 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the sale, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $103,245.00. Following the transaction, the chief financial officer now directly owns 113,592 shares in the company, valued at approximately $7,818,537.36. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,930 shares of company stock valued at $1,999,038 in the last three months. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

A number of large investors have recently bought and sold shares of the business. Centricity Wealth Management LLC bought a new stake in shares of Marvell Technology during the 4th quarter worth about $26,000. ORG Partners LLC raised its stake in shares of Marvell Technology by 175.3% in the 4th 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. Rialto Wealth Management LLC acquired a new stake in Marvell Technology in the 4th quarter worth approximately $27,000. Kieckhefer Group LLC bought a new stake in Marvell Technology during the fourth quarter worth approximately $33,000. Finally, Financial Life Planners acquired a new position in Marvell Technology during the fourth quarter valued at approximately $33,000. 83.51% of the stock is currently owned by institutional investors.

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.