Marvell Technology, Inc. (NASDAQ:MRVL) EVP Sells $282,500.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the transaction, the executive vice president now owns 24,706 shares in the company, valued at $2,791,778. This trade represents a 9.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Marvell Technology Stock Up 1.7 %

Shares of Marvell Technology stock opened at $118.23 on Thursday. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $126.15. The firm’s 50 day moving average price is $101.87 and its 200-day moving average price is $81.95. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The company has a market cap of $102.30 billion, a P/E ratio of -69.55, a PEG ratio of 4.03 and a beta of 1.41.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is presently -14.12%.

Institutional Trading of Marvell Technology

A number of institutional investors have recently made changes to their positions in MRVL. Acadian Asset Management LLC raised its stake in Marvell Technology by 38,460.2% in the second quarter. Acadian Asset Management LLC now owns 132,647 shares of the semiconductor company’s stock valued at $9,267,000 after buying an additional 132,303 shares during the last quarter. Fiducient Advisors LLC acquired a new position in shares of Marvell Technology during the second quarter valued at about $279,000. Caprock Group LLC raised its position in shares of Marvell Technology by 75.0% in the 2nd quarter. Caprock Group LLC now owns 8,993 shares of the semiconductor company’s stock valued at $629,000 after purchasing an additional 3,855 shares during the last quarter. Ballentine Partners LLC boosted its stake in Marvell Technology by 13.8% in the 2nd quarter. Ballentine Partners LLC now owns 6,208 shares of the semiconductor company’s stock worth $434,000 after purchasing an additional 751 shares in the last quarter. Finally, Quest Partners LLC grew its position in Marvell Technology by 1,181.8% during the 2nd quarter. Quest Partners LLC now owns 1,128 shares of the semiconductor company’s stock worth $79,000 after purchasing an additional 1,040 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MRVL shares. Oppenheimer upped their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Loop Capital increased their price target on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Susquehanna upped their price objective on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. B. Riley lifted their target price on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Cantor Fitzgerald upped their price target 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. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $120.64.

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.