Marvell Technology (NASDAQ:MRVL) Stock Price Down 1.5% After Insider Selling

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) traded down 1.5% on Tuesday following insider selling activity. The stock traded as low as $115.25 and last traded at $117.28. 3,307,964 shares traded hands during trading, a decline of 66% from the average session volume of 9,746,353 shares. The stock had previously closed at $119.01.

Specifically, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the sale, the executive vice president now directly owns 24,706 shares in the company, valued at $2,791,778. This represents a 9.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MRVL shares. Rosenblatt Securities lifted their price objective on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Citigroup increased their price objective on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their price objective on Marvell Technology from $87.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Susquehanna increased their target price on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.64.

Marvell Technology Price Performance

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 market cap of $102.70 billion, a price-to-earnings ratio of -69.82, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. The stock’s fifty day moving average price is $101.24 and its 200-day moving average price is $81.64.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a $0.06 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.20%. Marvell Technology’s payout ratio is -14.12%.

Hedge Funds Weigh In On Marvell Technology

Several institutional investors and hedge funds have recently modified their holdings of MRVL. Citizens Financial Group Inc. RI increased its position in Marvell Technology by 1.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after purchasing an additional 116 shares during the last quarter. Crumly & Associates Inc. increased its holdings in Marvell Technology by 1.5% in the third quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock worth $593,000 after buying an additional 121 shares during the last quarter. United Capital Management of KS Inc. raised its position in Marvell Technology by 0.4% during the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after acquiring an additional 131 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in Marvell Technology by 1.4% in the third quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock valued at $716,000 after acquiring an additional 139 shares during the last quarter. Finally, ASB Consultores LLC grew its position in Marvell Technology by 3.8% in the third quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock worth $276,000 after acquiring an additional 140 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

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.