Marvell Technology (NASDAQ:MRVL) Stock Price Down 5% - Should You Sell?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report)'s stock price fell 5% during trading on Monday . The company traded as low as $48.69 and last traded at $49.11. 3,315,170 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 17,280,639 shares. The stock had previously closed at $51.70.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MRVL shares. Citigroup decreased their price objective on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a report on Friday, April 11th. Benchmark reaffirmed a "buy" rating and issued a $135.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Needham & Company LLC reduced their price objective on Marvell Technology from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Roth Capital set a $100.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Finally, Stifel Nicolaus decreased their price target on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Marvell Technology currently has a consensus rating of "Moderate Buy" and an average price target of $114.56.

Marvell Technology Stock Performance

The stock has a 50-day moving average of $68.53 and a 200 day moving average of $90.58. 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 firm has a market capitalization of $51.03 billion, a P/E ratio of -34.66, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.41%. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 12,460 shares of the company's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the completion of the sale, the chief financial officer now directly owns 113,592 shares of the company's stock, valued at $7,818,537.36. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,390 shares of company stock valued at $1,937,938 over the last ninety days. 0.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Alta Advisers Ltd raised its stake in shares of Marvell Technology by 48.3% during the first quarter. Alta Advisers Ltd now owns 4,298 shares of the semiconductor company's stock worth $265,000 after buying an additional 1,400 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in shares of Marvell Technology during the 1st quarter valued at $103,000. Smith Salley Wealth Management lifted its stake in shares of Marvell Technology by 25.9% in the 1st quarter. Smith Salley Wealth Management now owns 222,326 shares of the semiconductor company's stock valued at $13,689,000 after purchasing an additional 45,748 shares during the period. Taylor Frigon Capital Management LLC acquired a new position in shares of Marvell Technology in the 1st quarter valued at $1,777,000. Finally, Amalgamated Bank boosted its position in shares of Marvell Technology by 2.0% in the 1st quarter. Amalgamated Bank now owns 46,471 shares of the semiconductor company's stock worth $2,861,000 after purchasing an additional 913 shares during the last quarter. Institutional investors own 83.51% of the company's stock.

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.