Marvell Technology (NASDAQ:MRVL) Stock Price Down 2.5% - Should You Sell?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) shares were down 2.5% during trading on Friday . The company traded as low as $66.97 and last traded at $67.88. Approximately 3,867,047 shares traded hands during trading, a decline of 74% from the average daily volume of 14,703,393 shares. The stock had previously closed at $69.64.

Analysts Set New Price Targets

A number of research analysts have recently commented on MRVL shares. China Renaissance initiated coverage on Marvell Technology in a report on Thursday, June 5th. They set a "buy" rating and a $110.00 price target on the stock. KeyCorp decreased their price target on Marvell Technology from $115.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Melius lowered Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price objective for the company. in a research report on Thursday, May 22nd. Redburn Atlantic started coverage on Marvell Technology in a research note on Wednesday, May 28th. They set a "neutral" rating and a $67.00 price target for the company. Finally, B. Riley cut their price objective on Marvell Technology from $135.00 to $110.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $94.73.

Marvell Technology Stock Down 3.5%

The business has a 50-day simple moving average of $60.30 and a two-hundred day simple moving average of $85.20. The stock has a market capitalization of $58.04 billion, a P/E ratio of -39.52, a PEG ratio of 1.61 and a beta of 1.76. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. The company had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.88 billion. Marvell Technology had a positive return on equity of 4.59% and a negative net margin of 27.49%. The business's revenue for the quarter was up 63.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share. Equities research analysts forecast that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.36%. Marvell Technology's dividend payout ratio (DPR) is presently -42.11%.

Insider Activity

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $412,980.00. Following the transaction, the chief operating officer now owns 81,931 shares of the company's stock, valued at approximately $5,639,310.73. This represents a 6.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Casper sold 12,460 shares of the stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. Insiders have sold 33,541 shares of company stock valued at $2,079,948 over the last 90 days. 0.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Centricity Wealth Management LLC acquired a new stake in Marvell Technology during the 4th quarter worth approximately $26,000. Hughes Financial Services LLC acquired a new stake in Marvell Technology during the 1st quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new stake in Marvell Technology during the 4th quarter worth approximately $27,000. Rossby Financial LCC acquired a new stake in Marvell Technology during the 1st quarter worth approximately $27,000. Finally, Financial Connections Group Inc. lifted its holdings in Marvell Technology by 776.0% during the 1st quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 388 shares during the last quarter. 83.51% of the stock is currently owned by 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.