Marvell Technology (NASDAQ:MRVL) Trading Down 0.5% – Time to Sell?

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) fell 0.5% during mid-day trading on Wednesday . The stock traded as low as $71.56 and last traded at $72.71. 2,147,049 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 12,343,816 shares. The stock had previously closed at $73.11.

Analyst Ratings Changes

A number of analysts have recently issued reports on MRVL shares. KeyCorp lifted their price target on Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Barclays upped their price objective on shares of Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Roth Mkm reiterated a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. Rosenblatt Securities boosted their target price on Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Bank of America increased their price target on Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and a consensus price target of $91.62.

Marvell Technology Trading Up 2.0 %

The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. The company has a 50 day simple moving average of $69.60 and a 200 day simple moving average of $69.88. The stock has a market capitalization of $65.59 billion, a PE ratio of -66.77, a P/E/G ratio of 3.17 and a beta of 1.45.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. Marvell Technology’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. Analysts predict that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.32%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.62%.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $73.88, for a total transaction of $110,820.00. Following the sale, the chief financial officer now directly owns 109,318 shares in the company, valued at approximately $8,076,413.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $73.88, for a total value of $110,820.00. Following the sale, the chief financial officer now directly owns 109,318 shares in the company, valued at $8,076,413.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew J. Murphy sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $73.29, for a total value of $439,740.00. Following the transaction, the chief executive officer now owns 208,915 shares of the company’s stock, valued at $15,311,380.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 110,000 shares of company stock worth $8,130,685. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

A number of large investors have recently made changes to their positions in the stock. Lazard Asset Management LLC increased its stake in Marvell Technology by 47,934.4% in the first quarter. Lazard Asset Management LLC now owns 4,001,745 shares of the semiconductor company’s stock valued at $283,643,000 after purchasing an additional 3,993,414 shares during the last quarter. Whale Rock Capital Management LLC acquired a new stake in shares of Marvell Technology in the first quarter valued at about $181,559,000. Ameriprise Financial Inc. raised its stake in shares of Marvell Technology by 24.1% during the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after purchasing an additional 2,254,610 shares during the period. Swedbank AB boosted its position in Marvell Technology by 653.5% in the 2nd quarter. Swedbank AB now owns 2,334,015 shares of the semiconductor company’s stock valued at $163,148,000 after buying an additional 2,024,269 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Marvell Technology by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 72,342,362 shares of the semiconductor company’s stock valued at $4,362,968,000 after purchasing an additional 1,890,753 shares during the last quarter. 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.