Marvell Technology (NASDAQ:MRVL) Stock Price Down 0% - Time to Sell?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) shares traded down 0% during mid-day trading on Tuesday . The stock traded as low as $114.26 and last traded at $115.12. 2,221,057 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 9,693,797 shares. The stock had previously closed at $115.15.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MRVL. Morgan Stanley increased their target price on shares of Marvell Technology from $102.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Friday, December 20th. Wells Fargo & Company raised their target price on Marvell Technology from $130.00 to $140.00 and gave the stock an "overweight" rating in a research note on Monday. Loop Capital upped their price target on Marvell Technology from $95.00 to $110.00 and gave the company a "hold" rating in a research report on Wednesday, December 4th. Oppenheimer boosted their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Finally, Cantor Fitzgerald upped their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $121.68.

Marvell Technology Price Performance

The firm's 50 day moving average is $104.54 and its 200 day moving average is $83.31. The firm has a market cap of $99.68 billion, a P/E ratio of -67.76, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology's dividend payout ratio (DPR) is presently -14.12%.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the sale, the executive vice president now owns 109,244 shares of the company's stock, valued at $8,823,637.88. The trade was a 5.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the transaction, the chief financial officer now directly owns 114,211 shares in the company, valued at approximately $10,180,768.54. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,500 shares of company stock valued at $2,967,670. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Marvell Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRVL. Tsfg LLC raised its stake in Marvell Technology by 7.5% during the 4th quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company's stock valued at $176,000 after purchasing an additional 111 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in shares of Marvell Technology by 1.5% in the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company's stock worth $566,000 after buying an additional 116 shares in the last quarter. Crumly & Associates Inc. boosted its holdings in shares of Marvell Technology by 1.5% during the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company's stock valued at $593,000 after purchasing an additional 121 shares during the last quarter. United Capital Management of KS Inc. grew its position in shares of Marvell Technology by 0.4% during the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company's stock valued at $2,470,000 after purchasing an additional 131 shares in the last quarter. Finally, Sunflower Bank N.A. lifted its position in shares of Marvell Technology by 4.8% in the fourth quarter. Sunflower Bank N.A. now owns 3,003 shares of the semiconductor company's stock worth $332,000 after buying an additional 138 shares in the last quarter. Institutional investors 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.