Marvell Technology, Inc. (NASDAQ:MRVL) CFO Sells $103,245.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL) CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the transaction, the chief financial officer now owns 113,592 shares of the company’s stock, valued at approximately $7,818,537.36. This represents a 1.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Marvell Technology Trading Up 2.2 %

MRVL opened at $69.81 on Thursday. The firm has a market cap of $60.46 billion, a price-to-earnings ratio of -41.06, a PEG ratio of 1.61 and a beta of 1.42. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The stock has a fifty day moving average price of $100.89 and a 200-day moving average price of $93.72.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MRVL. Melius began coverage on Marvell Technology in a report on Monday, January 27th. They set a “buy” rating and a $188.00 target price for the company. UBS Group upped their target price on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Susquehanna upped their target price on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. Needham & Company LLC decreased their target price on Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Marvell Technology in a report on Thursday, March 6th. 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 company’s stock. According to MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. 111 Capital acquired a new position in Marvell Technology during the 4th quarter valued at about $2,770,000. Thoma Capital Management LLC acquired a new position in Marvell Technology during the 4th quarter valued at about $883,000. Keystone Financial Services LLC acquired a new position in Marvell Technology during the 4th quarter valued at about $224,000. Castle Rock Wealth Management LLC increased its position in Marvell Technology by 165.8% during the 4th quarter. Castle Rock Wealth Management LLC now owns 16,283 shares of the semiconductor company’s stock valued at $1,734,000 after buying an additional 10,157 shares in the last quarter. Finally, Total Wealth Planning & Management Inc. purchased a new stake in Marvell Technology during the 4th quarter valued at about $824,000. 83.51% of the stock is owned by institutional investors and hedge funds.

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.