Marvell Technology (NASDAQ:MRVL) Trading Down 5% - Time to Sell?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) was down 5% during trading on Monday . The stock traded as low as $48.69 and last traded at $49.11. Approximately 3,315,170 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 17,280,639 shares. The stock had previously closed at $51.70.

Analyst Ratings Changes

MRVL has been the topic of several research analyst reports. Raymond James set a $110.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Citigroup dropped their target price on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Rosenblatt Securities reiterated a "buy" rating and set a $140.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Summit Insights downgraded Marvell Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, StockNews.com upgraded Marvell Technology from a "sell" rating to a "hold" rating in a research report on Thursday, January 9th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $114.56.

Marvell Technology Stock Up 6.5 %

The company has a market capitalization of $49.58 billion, a PE ratio of -33.60, a P/E/G ratio of 1.61 and a beta of 1.78. The business has a 50-day moving average of $70.48 and a 200 day moving average of $90.80. 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the sale, the chief financial officer now directly owns 113,592 shares of the company's stock, valued at $7,818,537.36. This represents a 1.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares of the company's stock, valued at $2,138,125. This trade represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,930 shares of company stock valued at $1,252,638 over the last 90 days. 0.33% of the stock is owned by corporate insiders.

Institutional Trading of Marvell Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. ORG Partners LLC lifted its holdings in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after buying an additional 149 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in Marvell Technology during the 4th quarter valued at $26,000. Rialto Wealth Management LLC bought a new position in shares of Marvell Technology during the 4th quarter worth $27,000. Security National Bank purchased a new position in shares of Marvell Technology during the first quarter valued at $31,000. Finally, Kieckhefer Group LLC purchased a new stake in Marvell Technology in the fourth quarter worth about $33,000. 83.51% of the stock is currently owned by 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.