Marvell Technology (NASDAQ:MRVL) Stock Price Down 0% on Insider Selling

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) fell 0% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $114.84 and last traded at $116.20. 2,433,162 shares were traded during mid-day trading, a decline of 75% from the average session volume of 9,802,925 shares. The stock had previously closed at $116.23.

Specifically, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the transaction, the director now owns 30,959 shares of the company’s stock, valued at approximately $3,797,121.35. This trade represents a 13.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at $2,791,778. The trade was a 9.19 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several research analysts have weighed in on MRVL shares. The Goldman Sachs Group upped their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday. Morgan Stanley upped their price target on shares of Marvell Technology from $102.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Needham & Company LLC lifted their price objective on Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. KeyCorp upped their target price on Marvell Technology from $95.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Evercore ISI lifted their price target on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.28.

Marvell Technology Stock Performance

The stock has a 50 day moving average price of $103.34 and a two-hundred day moving average price of $82.45. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company has a market capitalization of $98.92 billion, a price-to-earnings ratio of -67.25, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.

Hedge Funds Weigh In On Marvell Technology

Several hedge funds have recently added to or reduced their stakes in MRVL. ORG Partners LLC lifted its stake in shares of 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 purchasing an additional 149 shares during the period. True Wealth Design LLC increased its holdings in Marvell Technology by 1,481.8% in the third 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 last quarter. Quarry LP acquired a new position in Marvell Technology in the second quarter valued at about $32,000. Strategic Investment Solutions Inc. IL bought a new position in Marvell Technology during the second quarter worth about $32,000. Finally, Whittier Trust Co. grew its position in shares of Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares during the period. Institutional investors 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.