Marvell Technology (NASDAQ:MRVL) Shares Down 8.5% – Should You Sell?

Marvell Technology, Inc. (NASDAQ:MRVL) shares traded down 8.5% during trading on Thursday . The stock traded as low as $57.63 and last traded at $57.87. 5,140,751 shares changed hands during trading, a decline of 60% from the average session volume of 12,912,827 shares. The stock had previously closed at $63.23.

Analysts Set New Price Targets

A number of brokerages have weighed in on MRVL. Rosenblatt Securities reaffirmed a “buy” rating and issued a $140.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Bank of America decreased their target price on Marvell Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Raymond James set a $110.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. KeyCorp decreased their price target on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Finally, Benchmark reissued a “buy” rating and issued a $135.00 price objective on shares of Marvell Technology in a research note on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $120.44.

Marvell Technology Stock Performance

The stock has a market capitalization of $42.81 billion, a P/E ratio of -29.08, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company has a 50-day moving average price of $87.42 and a two-hundred day moving average price of $92.94. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is -23.53%.

Insider Activity at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total transaction of $177,495.00. Following the transaction, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at $13,159,597.63. This represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the sale, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,185 shares of company stock worth $3,744,268 in the last quarter. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. ORG Partners LLC lifted its position in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Marvell Technology in the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new position in shares of Marvell Technology in the fourth quarter valued at approximately $27,000. Kieckhefer Group LLC bought a new stake in Marvell Technology during the fourth quarter worth $33,000. Finally, Financial Life Planners purchased a new stake in Marvell Technology in the 4th quarter valued at $33,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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.