Marvell Technology (NASDAQ:MRVL) Stock Price Down 0.1% – Should You Sell?

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price traded down 0.1% on Monday . The stock traded as low as $111.32 and last traded at $111.79. 2,998,172 shares traded hands during trading, a decline of 76% from the average session volume of 12,687,920 shares. The stock had previously closed at $111.90.

Analysts Set New Price Targets

Several research firms have recently issued reports on MRVL. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Monday, December 2nd. Piper Sandler reiterated an “overweight” rating and issued a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Oppenheimer raised 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. Loop Capital upped their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. boosted their target price on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report 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 company’s stock. Based on data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $119.76.

Marvell Technology Price Performance

The company has a market cap of $100.33 billion, a PE ratio of -68.21, a price-to-earnings-growth ratio of 4.03 and a beta of 1.46. The stock has a fifty day moving average price of $95.38 and a 200-day moving average price of $78.98. 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.21%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Marvell Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Checchi Capital Advisers LLC lifted its stake in Marvell Technology by 6.7% in the second quarter. Checchi Capital Advisers LLC now owns 4,359 shares of the semiconductor company’s stock valued at $305,000 after acquiring an additional 274 shares during the last quarter. Kintegral Advisory LLC boosted its holdings in Marvell Technology by 2.0% in the second quarter. Kintegral Advisory LLC now owns 12,710 shares of the semiconductor company’s stock worth $888,000 after purchasing an additional 250 shares in the last quarter. HB Wealth Management LLC increased its position in Marvell Technology by 51.5% during the second quarter. HB Wealth Management LLC now owns 15,297 shares of the semiconductor company’s stock worth $1,069,000 after buying an additional 5,203 shares during the last quarter. Arkadios Wealth Advisors bought a new position in Marvell Technology during the second quarter valued at about $408,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Marvell Technology by 22.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,485 shares of the semiconductor company’s stock worth $102,000 after buying an additional 268 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

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.