Marvell Technology (NASDAQ:MRVL) Shares Down 6.8% – Should You Sell?

Shares of Marvell Technology, Inc. (NASDAQ:MRVLGet Free Report) fell 6.8% during trading on Tuesday . The stock traded as low as $116.12 and last traded at $116.31. 3,536,524 shares changed hands during trading, a decline of 72% from the average session volume of 12,457,563 shares. The stock had previously closed at $124.78.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Rosenblatt Securities increased their target price on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Citigroup upped their target price on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Oppenheimer upped their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company increased their target price on Marvell Technology from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $119.04.

Read Our Latest Analysis on MRVL

Marvell Technology Price Performance

The stock has a market capitalization of $97.79 billion, a PE ratio of -67.16, a price-to-earnings-growth ratio of 3.72 and a beta of 1.46. The stock’s 50 day moving average is $91.00 and its two-hundred day moving average is $77.15. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Announces Dividend

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

Insider Transactions at Marvell Technology

In related news, insider Muhammad Raghib Hussain sold 150,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the sale, the insider now owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. This represents a 17.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the transaction, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 167,500 shares of company stock valued at $13,525,995. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Oddo BHF Asset Management Sas bought a new stake in shares of Marvell Technology in the 3rd quarter worth about $10,944,000. Beaird Harris Wealth Management LLC raised its position in Marvell Technology by 2,313.8% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 700 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 671 shares during the last quarter. Peapack Gladstone Financial Corp raised its position in shares of Marvell Technology by 27.3% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 23,312 shares of the semiconductor company’s stock worth $1,681,000 after acquiring an additional 5,005 shares in the last quarter. Synovus Financial Corp increased its position in shares of Marvell Technology by 60.5% during the third quarter. Synovus Financial Corp now owns 6,489 shares of the semiconductor company’s stock worth $468,000 after acquiring an additional 2,445 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Marvell Technology during the 3rd quarter worth $3,432,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Company Profile

(Get Free Report)

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.

Further Reading

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