Marvell Technology (NASDAQ:MRVL) Stock Price Down 1.2% – Time to Sell?

Marvell Technology, Inc. (NASDAQ:MRVL) shares traded down 1.2% during trading on Tuesday . The stock traded as low as $122.10 and last traded at $123.27. 3,887,594 shares changed hands during trading, a decline of 62% from the average session volume of 10,291,562 shares. The stock had previously closed at $124.76.

Analyst Ratings Changes

A number of research firms have recently weighed in on MRVL. Susquehanna lifted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. raised their price target on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Evercore ISI upped their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Needham & Company LLC raised their target price on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Bank of America upped their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average target price of $125.38.

Marvell Technology Trading Up 0.7 %

The company has a market cap of $109.08 billion, a P/E ratio of -74.15, a PEG ratio of 4.07 and a beta of 1.41. The firm’s 50 day moving average is $108.68 and its two-hundred day moving average is $85.65. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.19%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is presently -14.12%.

Insiders Place Their Bets

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the sale, the chief financial officer now owns 114,211 shares in the company, valued at approximately $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction 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. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marvell Technology

A number of institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in shares of Marvell Technology by 28.8% during the second quarter. Pacer Advisors Inc. now owns 52,685 shares of the semiconductor company’s stock valued at $3,683,000 after acquiring an additional 11,792 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Marvell Technology by 20.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,818 shares of the semiconductor company’s stock valued at $122,000 after purchasing an additional 305 shares during the period. Xponance Inc. increased its position in shares of Marvell Technology by 6.0% during the 2nd quarter. Xponance Inc. now owns 80,994 shares of the semiconductor company’s stock valued at $5,661,000 after purchasing an additional 4,571 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Marvell Technology by 60.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 165,880 shares of the semiconductor company’s stock worth $11,595,000 after purchasing an additional 62,339 shares during the period. Finally, NBW Capital LLC purchased a new position in shares of Marvell Technology in the 2nd quarter worth about $8,523,000. 83.51% of the stock is 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.