Marvell Technology (NASDAQ:MRVL) Shares Down 1% - Time to Sell?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report)'s stock price traded down 1% during mid-day trading on Tuesday . The company traded as low as $72.00 and last traded at $72.04. 2,128,457 shares were traded during trading, a decline of 83% from the average session volume of 12,600,111 shares. The stock had previously closed at $72.76.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MRVL. Susquehanna increased their target price on Marvell Technology from $110.00 to $125.00 and gave the stock a "positive" rating in a research report on Wednesday, December 4th. Craig Hallum lifted their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Barclays decreased their target price on shares of Marvell Technology from $150.00 to $130.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. Needham & Company LLC cut their price target on Marvell Technology from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Finally, 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. 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's stock. According to MarketBeat.com, Marvell Technology has a consensus rating of "Moderate Buy" and a consensus price target of $120.44.

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Marvell Technology Stock Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm has a 50 day moving average of $95.30 and a 200-day moving average of $93.52. The stock has a market capitalization of $53.26 billion, a PE ratio of -36.19, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

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 0.39%. Marvell Technology's payout ratio is -23.53%.

Insider Activity at Marvell Technology

In other news, EVP Mark Casper sold 2,500 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the transaction, the executive vice president now owns 24,706 shares of the company's stock, valued at approximately $2,791,778. This represents a 9.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brad W. Buss bought 3,000 shares of Marvell Technology stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $69.00 per share, with a total value of $207,000.00. Following the completion of the acquisition, the director now owns 87,113 shares in the company, valued at approximately $6,010,797. The trade was a 3.57 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 37,685 shares of company stock valued at $4,026,768. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marvell Technology

A number of institutional investors have recently modified their holdings of MRVL. Centricity Wealth Management LLC acquired a new position in Marvell Technology during the 4th quarter worth $26,000. ORG Partners LLC increased its position in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock worth $26,000 after buying an additional 149 shares during the period. Rialto Wealth Management LLC acquired a new position in Marvell Technology during the 4th quarter valued at $27,000. Kieckhefer Group LLC acquired a new position in shares of Marvell Technology during the fourth quarter valued at about $33,000. Finally, Financial Life Planners acquired a new position in shares of Marvell Technology during the fourth quarter valued at about $33,000. Institutional investors 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.