Marvell Technology (NASDAQ:MRVL) Stock Price Down 10.8% – Should You Sell?

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) traded down 10.8% during mid-day trading on Friday . The stock traded as low as $47.31 and last traded at $49.62. 11,698,259 shares traded hands during trading, a decline of 10% from the average session volume of 12,997,224 shares. The stock had previously closed at $55.64.

Analysts Set New Price Targets

Several research firms have recently commented on MRVL. 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. Piper Sandler dropped their target price on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Stifel Nicolaus decreased their price target on shares of Marvell Technology from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Thursday, March 6th. Finally, William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Stock Down 11.2 %

The stock has a market capitalization of $42.81 billion, a P/E ratio of -29.08, a P/E/G ratio of 1.61 and a beta of 1.42. 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 firm has a 50-day simple moving average of $87.42 and a 200 day simple moving average of $93.08.

Marvell Technology Announces Dividend

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 given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.49%. Marvell Technology’s dividend payout ratio is presently -23.53%.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $103,245.00. Following the completion of the transaction, the chief financial officer now owns 113,592 shares in the company, valued at $7,818,537.36. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,185 shares of company stock valued at $3,744,268 in the last ninety days. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Marvell Technology

Hedge funds have recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its position in Marvell Technology by 23.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 76,583 shares of the semiconductor company’s stock valued at $4,715,000 after acquiring an additional 14,735 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new stake in Marvell Technology in the fourth quarter worth $131,000. 111 Capital bought a new position in shares of Marvell Technology during the 4th quarter worth about $2,770,000. Thoma Capital Management LLC bought a new stake in shares of Marvell Technology during the fourth quarter valued at approximately $883,000. Finally, Keystone Financial Services LLC acquired a new stake in Marvell Technology in the 4th quarter valued at $224,000. Institutional investors own 83.51% of the company’s stock.

About Marvell Technology

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.