Marvell Technology (NASDAQ:MRVL) Shares Down 2.7% After Insider Selling

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) were down 2.7% on Thursday following insider selling activity. The stock traded as low as $106.82 and last traded at $108.03. Approximately 2,212,915 shares changed hands during trading, a decline of 83% from the average daily volume of 12,725,649 shares. The stock had previously closed at $111.04.

Specifically, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the sale, the chief operating officer now directly owns 87,931 shares in the company, valued at $9,351,461.85. This trade represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MRVL shares. Cantor Fitzgerald increased their price target on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Melius began coverage on shares of Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 price target on the stock. TD Cowen upped their target price on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Finally, Morgan Stanley lowered their price objective on shares of Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Price Performance

The company has a market capitalization of $89.86 billion, a P/E ratio of -61.09, a price-to-earnings-growth ratio of 1.64 and a beta of 1.40. 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 company’s 50-day moving average price is $113.59 and its two-hundred day moving average price is $92.01.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.23%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Institutional Investors Weigh In On Marvell Technology

Institutional investors have recently made changes to their positions in the company. True Wealth Design LLC grew its position in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the last quarter. ORG Partners LLC increased its position in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after buying an additional 149 shares during the period. Centricity Wealth Management LLC bought a new position in Marvell Technology during the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new position in Marvell Technology during the 4th quarter worth $27,000. Finally, Kieckhefer Group LLC bought a new position in Marvell Technology during the 4th quarter worth $33,000. Institutional investors own 83.51% of the company’s stock.

About Marvell Technology

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.