Marvell Technology (NASDAQ:MRVL) Stock Price Down 0.3% – Time to Sell?

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) fell 0.3% during trading on Thursday . The company traded as low as $114.11 and last traded at $115.55. 1,812,985 shares changed hands during trading, a decline of 86% from the average session volume of 12,638,825 shares. The stock had previously closed at $115.95.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MRVL shares. Bank of America increased their target price on shares of Marvell Technology from $108.00 to $125.00 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. Morgan Stanley increased their target price on shares of Marvell Technology from $102.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Susquehanna upped their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler reissued an “overweight” rating and set a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $119.76.

Marvell Technology Stock Performance

The company has a fifty day moving average of $96.06 and a two-hundred day moving average of $79.24. 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 company has a market cap of $100.19 billion, a price-to-earnings ratio of -68.11, a P/E/G ratio of 4.03 and a beta of 1.46.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.21%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Insiders Place Their Bets

In other news, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s 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 $12,075,000.00. Following the transaction, the insider now owns 694,487 shares in the company, valued at approximately $55,906,203.50. The trade was a 17.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the sale, the chief financial officer now owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 175,000 shares of company stock valued at $14,444,745 in the last ninety days. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Marvell Technology

Large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. boosted its position in shares of Marvell Technology by 24.1% during the 2nd 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 in the last quarter. Temasek Holdings Private Ltd increased its stake in shares of Marvell Technology by 581.8% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after acquiring an additional 1,911,532 shares in the last quarter. Holocene Advisors LP acquired a new position in shares of Marvell Technology during the 3rd quarter valued at $120,116,000. Van ECK Associates Corp boosted its stake in Marvell Technology by 26.6% during the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after acquiring an additional 1,570,050 shares in the last quarter. Finally, D1 Capital Partners L.P. acquired a new stake in Marvell Technology in the second quarter worth $108,204,000. 83.51% of the stock is currently 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.