Marvell Technology (NASDAQ:MRVL) Trading Down 0.1% – Time to Sell?

Marvell Technology, Inc. (NASDAQ:MRVL) shares dropped 0.1% during mid-day trading on Monday . The company traded as low as $111.32 and last traded at $111.79. Approximately 2,998,172 shares were traded during trading, a decline of 76% from the average daily volume of 12,687,920 shares. The stock had previously closed at $111.90.

Analysts Set New Price Targets

MRVL has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on shares of Marvell Technology from $102.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. KeyCorp raised their price objective on Marvell Technology from $95.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $125.00 target price (up previously from $114.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Roth Mkm reiterated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Finally, Evercore ISI increased their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $119.76.

Marvell Technology Stock Up 1.9 %

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm has a market capitalization of $100.33 billion, a P/E ratio of -68.21, a P/E/G ratio of 4.03 and a beta of 1.46. The stock has a fifty day moving average price of $95.38 and a two-hundred day moving average price of $78.98.

Marvell Technology Dividend Announcement

The firm 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. The ex-dividend date is Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.21%. Marvell Technology’s payout ratio is -14.12%.

Insider Transactions at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the sale, the executive vice president now owns 97,244 shares in the company, valued at $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology 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 completion of the transaction, the chief financial officer now owns 110,253 shares of the company’s stock, valued at approximately $8,875,366.50. The trade was a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 175,000 shares of company stock worth $14,444,745. 0.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Marvell Technology

Large investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC grew its position in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Marvell Technology during the 2nd quarter valued at about $32,000. Quarry LP bought a new position in Marvell Technology in the 2nd quarter worth about $32,000. Whittier Trust Co. increased its stake in shares of Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares during the period. Finally, Goodman Advisory Group LLC acquired a new stake in shares of Marvell Technology in the third quarter valued at approximately $37,000. 83.51% of the stock is 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.