Marvell Technology (NASDAQ:MRVL) Trading Down 2.7% After Insider Selling

Shares of Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) fell 2.7% on Thursday after an insider sold shares in the company. The company traded as low as $106.82 and last traded at $108.03. 2,212,915 shares were traded during trading, a decline of 83% from the average session volume of 12,725,649 shares. The stock had previously closed at $111.04.

Specifically, COO Chris Koopmans sold 6,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the sale, the chief operating officer now directly owns 87,931 shares of the company's stock, valued at approximately $9,351,461.85. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MRVL. Needham & Company LLC increased their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Morgan Stanley decreased their price objective on shares of Marvell Technology from $120.00 to $113.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 28th. The Goldman Sachs Group increased their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the company a "buy" rating in a report on Friday, January 10th. Oppenheimer increased their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Finally, Melius Research raised shares of Marvell Technology to a "strong-buy" rating in a report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $127.60.

Marvell Technology Stock Down 4.5 %

The company has a market capitalization of $89.86 billion, a PE ratio of -61.09, a price-to-earnings-growth ratio of 1.64 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 has a 50-day moving average of $113.93 and a two-hundred day moving average of $91.69.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.23%. Marvell Technology's payout ratio is -14.12%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MRVL. True Wealth Design LLC grew its position in Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 326 shares during the period. ORG Partners LLC boosted its position in shares of Marvell Technology by 175.3% during the fourth 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. Centricity Wealth Management LLC purchased a new position in shares of Marvell Technology during the fourth quarter worth $26,000. Rialto Wealth Management LLC purchased a new position in shares of Marvell Technology during the fourth quarter worth $27,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Marvell Technology during the fourth quarter worth $33,000. 83.51% of the stock is currently 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.