Marvell Technology (NASDAQ:MRVL) Cut to Sell at StockNews.com

StockNews.com cut shares of Marvell Technology (NASDAQ:MRVL) from a hold rating to a sell rating in a research report released on Wednesday.

Several other equities research analysts also recently issued reports on MRVL. Benchmark restated a “buy” rating and issued a $135.00 price target (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Barclays increased their target price on Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Bank of America raised their target price on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, TD Cowen raised their price objective on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $119.76.

Marvell Technology Stock Down 1.1 %

Shares of NASDAQ:MRVL opened at $110.45 on Wednesday. The company has a 50 day moving average price of $99.16 and a two-hundred day moving average price of $80.65. 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 company has a market capitalization of $95.57 billion, a PE ratio of -64.97, a PEG ratio of 4.03 and a beta of 1.46. Marvell Technology has a 52 week low of $53.19 and a 52 week high of $126.15.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.22%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Insider Activity

In related news, CEO Matthew J. Murphy purchased 13,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was acquired at an average cost of $77.63 per share, for a total transaction of $1,009,190.00. Following the completion of the purchase, the chief executive officer now owns 221,915 shares in the company, valued at approximately $17,227,261.45. This represents a 6.22 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $120,750.00. Following the transaction, the chief financial officer now owns 110,253 shares in the company, valued at approximately $8,875,366.50. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 172,500 shares of company stock valued at $14,267,670. 0.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Marvell Technology

Institutional investors and hedge funds have recently bought and sold shares of the company. True Wealth Design LLC raised its position in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 326 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Marvell Technology during the second quarter valued at approximately $32,000. Quarry LP bought a new stake in Marvell Technology during the second quarter worth $32,000. Whittier Trust Co. boosted its holdings in shares of Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares in the last quarter. Finally, Goodman Advisory Group LLC bought a new position in shares of Marvell Technology in the 3rd quarter valued at $37,000. 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.