Marvell Technology (NASDAQ:MRVL) Trading Down 1.5% - Time to Sell?

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) shares dropped 1.5% during mid-day trading on Friday . The stock traded as low as $73.30 and last traded at $73.82. Approximately 11,953,114 shares were traded during trading, a decline of 20% from the average daily volume of 15,026,183 shares. The stock had previously closed at $74.95.

Analysts Set New Price Targets

MRVL has been the subject of several analyst reports. Redburn Atlantic initiated coverage on shares of Marvell Technology in a report on Wednesday, May 28th. They set a "neutral" rating and a $67.00 price target for the company. Loop Capital reduced their price objective on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating for the company in a report on Friday, May 30th. Barclays reduced their price objective on shares of Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Roth Capital set a $100.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Finally, Benchmark reaffirmed a "buy" rating and issued a $95.00 price objective on shares of Marvell Technology in a report on Wednesday. Seven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.33.

Marvell Technology Trading Down 1.1%

The company has a fifty day simple moving average of $61.61 and a 200-day simple moving average of $84.65. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The stock has a market cap of $64.02 billion, a price-to-earnings ratio of -130.18, a P/E/G ratio of 0.81 and a beta of 1.76.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The firm's quarterly revenue was up 63.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. On average, research analysts forecast that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.32%. Marvell Technology's dividend payout ratio is -42.11%.

Insider Activity

In related news, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $65.10, for a total value of $390,600.00. Following the completion of the sale, the chief operating officer now owns 92,065 shares of the company's stock, valued at approximately $5,993,431.50. The trade was a 6.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark Casper sold 12,460 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The shares were 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 27,394 shares of company stock worth $1,656,076 in the last 90 days. Company insiders own 0.19% of the company's stock.

Institutional Investors Weigh In On Marvell Technology

Several large investors have recently made changes to their positions in MRVL. Centricity Wealth Management LLC bought a new stake in Marvell Technology during the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new stake in Marvell Technology during the fourth quarter worth approximately $27,000. Lee Danner & Bass Inc. bought a new stake in Marvell Technology during the fourth quarter worth approximately $35,000. Capital Analysts LLC boosted its position in Marvell Technology by 236.3% during the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 241 shares during the period. Finally, Chelsea Counsel Co. bought a new stake in Marvell Technology during the fourth quarter worth approximately $44,000. 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.

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