Marvell Technology (NASDAQ:MRVL) Trading Down 3.2% on Insider Selling

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report)'s stock price was down 3.2% on Tuesday after an insider sold shares in the company. The stock traded as low as $67.76 and last traded at $68.12. Approximately 2,810,117 shares were traded during trading, a decline of 78% from the average daily volume of 12,635,969 shares. The stock had previously closed at $70.40.

Specifically, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $103,245.00. Following the completion of the sale, the chief financial officer now owns 113,592 shares of the company's stock, valued at $7,818,537.36. This trade represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $412,980.00. Following the completion of the sale, the chief operating officer now directly owns 81,931 shares of the company's stock, valued at approximately $5,639,310.73. This represents a 6.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction 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. The trade was a 4.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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Wall Street Analysts Forecast Growth

Several analysts recently commented on MRVL shares. Barclays decreased their price target on shares of Marvell Technology from $150.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Raymond James set a $110.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. B. Riley increased their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their target price on Marvell Technology from $90.00 to $130.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Finally, Citigroup reduced their price target on Marvell Technology from $136.00 to $122.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $120.44.

Marvell Technology Stock Performance

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 $99.94 and a 200 day moving average of $93.56. The stock has a market capitalization of $60.96 billion, a P/E ratio of -41.41, a PEG ratio of 1.61 and a beta of 1.42.

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 paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.34%. Marvell Technology's payout ratio is currently -23.53%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MRVL. True Wealth Design LLC grew its stake in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 326 shares during the period. ORG Partners LLC grew its position in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 149 shares during the period. Centricity Wealth Management LLC acquired a new position in Marvell Technology during the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new position in shares of Marvell Technology during the fourth quarter valued at $27,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at $33,000. 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.