Marvell Technology (NASDAQ:MRVL) Stock Price Down 2.9% - Should You Sell?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report)'s share price traded down 2.9% during trading on Friday . The stock traded as low as $113.64 and last traded at $114.75. 2,975,536 shares changed hands during trading, a decline of 69% from the average session volume of 9,616,507 shares. The stock had previously closed at $118.17.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MRVL shares. Citigroup lifted their price objective on shares of Marvell Technology from $91.00 to $112.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. StockNews.com raised Marvell Technology from a "sell" rating to a "hold" rating in a report on Thursday. Barclays raised their target price on Marvell Technology from $85.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. TD Cowen boosted their price target on Marvell Technology from $90.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Cantor Fitzgerald raised their price target on Marvell Technology from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $121.28.

Marvell Technology Stock Performance

The firm's 50-day moving average price is $103.34 and its two-hundred day moving average price is $82.45. 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 market capitalization of $98.92 billion, a PE ratio of -67.25, a P/E/G ratio of 4.03 and a beta of 1.41.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.21%. The ex-dividend date is Friday, January 10th. Marvell Technology's dividend payout ratio (DPR) is currently -14.12%.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $120,750.00. Following the transaction, the chief financial officer now owns 110,253 shares in the company, valued at approximately $8,875,366.50. This represents a 1.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael G. Strachan sold 5,000 shares of Marvell Technology stock in a transaction on Monday, January 6th. The shares were sold at an average price of $122.65, for a total transaction of $613,250.00. Following the sale, the director now directly owns 30,959 shares of the company's stock, valued at $3,797,121.35. This trade represents a 13.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 180,000 shares of company stock worth $15,163,420 over the last quarter. Corporate insiders own 0.33% of the company's stock.

Institutional Trading of Marvell Technology

Institutional investors have recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Marvell Technology by 0.3% during the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company's stock valued at $1,438,336,000 after acquiring an additional 68,893 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Marvell Technology by 24.1% during the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company's stock worth $812,509,000 after purchasing an additional 2,254,610 shares during the period. Geode Capital Management LLC raised its position in shares of Marvell Technology by 2.0% in the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company's stock valued at $818,916,000 after purchasing an additional 219,692 shares during the period. Wellington Management Group LLP lifted its stake in shares of Marvell Technology by 4.3% in the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company's stock worth $627,034,000 after buying an additional 359,005 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company's stock worth $538,868,000 after buying an additional 1,570,050 shares during the period. Institutional investors and hedge funds 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.