Marvell Technology (NASDAQ:MRVL) Shares Down 0.2% Following Insider Selling

Marvell Technology, Inc. (NASDAQ:MRVL)’s stock price fell 0.2% on Monday after an insider sold shares in the company. The company traded as low as $61.08 and last traded at $62.18. Approximately 2,448,716 shares traded hands during trading, a decline of 82% from the average daily volume of 13,668,362 shares. The stock had previously closed at $62.33.

Specifically, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $60.00, for a total value of $90,000.00. Following the completion of the transaction, the chief financial officer now directly owns 124,348 shares in the company, valued at approximately $7,460,880. This trade represents a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Melius Research upgraded Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Raymond James set a $110.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Summit Insights cut shares of Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. TD Cowen reduced their price objective on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Finally, Stifel Nicolaus lowered their target price on shares of Marvell Technology from $115.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $114.56.

Marvell Technology Trading Down 0.6 %

The company has a fifty day moving average of $63.56 and a two-hundred day moving average of $90.05. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $53.68 billion, a price-to-earnings ratio of -36.46, a P/E/G ratio of 1.61 and a beta of 1.83.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology’s payout ratio is -23.53%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MRVL. Intrepid Financial Planning Group LLC increased its position in Marvell Technology by 0.3% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock worth $2,860,000 after purchasing an additional 90 shares during the period. PDS Planning Inc boosted its stake in shares of Marvell Technology by 3.3% in the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock valued at $319,000 after buying an additional 92 shares in the last quarter. Lodestone Wealth Management LLC grew its holdings in Marvell Technology by 2.0% during the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock worth $514,000 after acquiring an additional 93 shares during the period. Valley National Advisers Inc. raised its position in Marvell Technology by 0.4% in the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after acquiring an additional 96 shares in the last quarter. Finally, Private Trust Co. NA lifted its holdings in Marvell Technology by 2.7% in the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock valued at $414,000 after acquiring an additional 97 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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.