Marvell Technology (NASDAQ:MRVL) Shares Down 1.4% – Should You Sell?

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) fell 1.4% on Thursday . The stock traded as low as $68.85 and last traded at $68.85. 4,734,584 shares changed hands during trading, a decline of 63% from the average session volume of 12,742,919 shares. The stock had previously closed at $69.85.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MRVL. UBS Group boosted their target price 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. KeyCorp cut their price objective on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Oppenheimer raised their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Morgan Stanley cut their price target on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Finally, StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.44.

Marvell Technology Trading Down 1.7 %

The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm’s 50-day moving average is $105.68 and its 200 day moving average is $93.77. The firm has a market capitalization of $59.42 billion, a price-to-earnings ratio of -40.49, a P/E/G ratio of 1.61 and a beta of 1.42.

Insider Transactions at Marvell Technology

In other news, Director Brad W. Buss acquired 3,000 shares of Marvell Technology stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $69.00 per share, with a total value of $207,000.00. Following the purchase, the director now owns 87,113 shares in the company, valued at $6,010,797. This trade represents a 3.57 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at $13,807,097.50. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,255 shares of company stock worth $4,330,980. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Castle Rock Wealth Management LLC grew its stake in Marvell Technology by 165.8% during the fourth quarter. Castle Rock Wealth Management LLC now owns 16,283 shares of the semiconductor company’s stock worth $1,734,000 after purchasing an additional 10,157 shares during the period. Total Wealth Planning & Management Inc. acquired a new stake in shares of Marvell Technology during the 4th quarter worth approximately $824,000. Menard Financial Group LLC bought a new stake in shares of Marvell Technology in the 4th quarter valued at $669,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Marvell Technology during the fourth quarter worth $105,450,000. Finally, Chelsea Counsel Co. bought a new position in Marvell Technology during the fourth quarter worth $44,000. 83.51% of the stock is owned by 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.