Marvell Technology (NASDAQ:MRVL) Shares Down 1.6% on Insider Selling

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report)'s share price dropped 1.6% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $70.30 and last traded at $71.91. Approximately 3,796,445 shares were traded during trading, a decline of 76% from the average daily volume of 15,875,238 shares. The stock had previously closed at $73.06.

Specifically, EVP Mark Casper sold 3,000 shares of Marvell Technology stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $72.35, for a total transaction of $217,050.00. Following the sale, the executive vice president directly owned 17,163 shares of the company's stock, valued at $1,241,743.05. This trade represents a 14.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Ratings Changes

Several research analysts recently commented on MRVL shares. Benchmark reaffirmed a "buy" rating and issued a $95.00 target price on shares of Marvell Technology in a research report on Wednesday, June 18th. Cantor Fitzgerald lifted their target price on shares of Marvell Technology from $60.00 to $75.00 and gave the company a "neutral" rating in a research report on Wednesday, June 18th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Marvell Technology from $100.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Wall Street Zen cut shares of Marvell Technology from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Wells Fargo & Company lowered their price objective on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $94.47.

Marvell Technology Stock Up 1.1%

The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30. The firm's 50-day moving average is $69.56 and its two-hundred day moving average is $78.27. The stock has a market cap of $63.96 billion, a P/E ratio of -129.89, a PEG ratio of 0.78 and a beta of 1.81.

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

Marvell Technology Announces Dividend

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

Hedge Funds Weigh In On Marvell Technology

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Marvell Technology in the 4th quarter valued at $234,000. Dynamic Advisor Solutions LLC grew its holdings in shares of Marvell Technology by 5.0% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company's stock valued at $266,000 after buying an additional 206 shares during the period. Yousif Capital Management LLC grew its holdings in shares of Marvell Technology by 8.4% in the 1st quarter. Yousif Capital Management LLC now owns 15,057 shares of the semiconductor company's stock valued at $927,000 after buying an additional 1,164 shares during the period. Tree Line Advisors Hong Kong Ltd. acquired a new position in Marvell Technology in the 4th quarter worth $46,389,000. Finally, Sargent Investment Group LLC boosted its stake in Marvell Technology by 55.7% in the 1st quarter. Sargent Investment Group LLC now owns 13,392 shares of the semiconductor company's stock worth $825,000 after purchasing an additional 4,792 shares during the period. Institutional investors and hedge funds 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.