Marvell Technology (NASDAQ:MRVL) Stock Price Down 1.5% Following Insider Selling

Marvell Technology, Inc. (NASDAQ:MRVL)’s stock price traded down 1.5% during trading on Tuesday following insider selling activity. The stock traded as low as $115.25 and last traded at $117.28. 3,307,964 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 9,746,353 shares. The stock had previously closed at $119.01.

Specifically, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the sale, the executive vice president now directly owns 24,706 shares of the company’s stock, valued at $2,791,778. The trade was a 9.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MRVL. B. Riley lifted their price objective on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised their price target on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Needham & Company LLC upped their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. UBS Group increased their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Cantor Fitzgerald lifted their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $120.64.

Marvell Technology Price Performance

The firm has a market capitalization of $100.57 billion, a PE ratio of -68.37, a PEG ratio of 4.03 and a beta of 1.41. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The firm has a 50-day simple moving average of $101.87 and a 200-day simple moving average of $81.95.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.21%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Institutional Trading of Marvell Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MRVL. True Wealth Design LLC grew its position in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in Marvell Technology during the second quarter valued at $32,000. Quarry LP bought a new stake in Marvell Technology during the second quarter valued at about $32,000. Whittier Trust Co. increased its position in Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares in the last quarter. Finally, Goodman Advisory Group LLC bought a new position in shares of Marvell Technology in the third quarter worth about $37,000. 83.51% of the stock is owned by hedge funds and other 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.