Marvell Technology (NASDAQ:MRVL) Stock Price Down 2.5% - Should You Sell?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) shares fell 2.5% on Wednesday . The stock traded as low as $105.15 and last traded at $106.44. 3,364,303 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 12,853,560 shares. The stock had previously closed at $109.12.

Analyst Ratings Changes

Several research firms have recently weighed in on MRVL. StockNews.com upgraded shares of Marvell Technology from a "sell" rating to a "hold" rating in a research note on Thursday, January 9th. B. Riley lifted their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Craig Hallum lifted their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. KeyCorp lifted their target price on shares of Marvell Technology from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Finally, Loop Capital lifted their target price on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a "hold" rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $127.60.

Marvell Technology Trading Up 2.9 %

The firm has a market capitalization of $92.16 billion, a P/E ratio of -62.65, a price-to-earnings-growth ratio of 1.77 and a beta of 1.40. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm's 50-day simple moving average is $113.93 and its 200-day simple moving average is $91.10.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders 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 dividend yield of 0.23%. Marvell Technology's payout ratio is -14.12%.

Insider Transactions at Marvell Technology

In related news, EVP Mark Casper sold 7,755 shares of the company's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,255 shares of company stock worth $3,692,880. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Marvell Technology

A number of hedge funds and other institutional investors have recently modified their holdings of MRVL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Marvell Technology by 1.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,340,202 shares of the semiconductor company's stock worth $810,725,000 after purchasing an additional 75,429 shares in the last quarter. Voloridge Investment Management LLC bought a new position in Marvell Technology during the 4th quarter valued at about $24,561,000. Waverly Advisors LLC bought a new position in shares of Marvell Technology in the 4th quarter worth approximately $398,000. Woodline Partners LP lifted its stake in shares of Marvell Technology by 126.2% in the 4th quarter. Woodline Partners LP now owns 634,378 shares of the semiconductor company's stock worth $70,067,000 after purchasing an additional 353,895 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Marvell Technology in the 4th quarter worth approximately $75,347,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

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.