Insider Selling: Marvell Technology, Inc. (NASDAQ:MRVL) EVP Sells $38,248.60 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Mark Casper sold 626 shares of the company’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $61.10, for a total value of $38,248.60. Following the sale, the executive vice president now owns 626 shares of the company’s stock, valued at approximately $38,248.60. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Mark Casper also recently made the following trade(s):

• On Wednesday, April 23rd, Mark Casper sold 12,460 shares of Marvell Technology stock. The stock was sold at an average price of $55.00, for a total value of $685,300.00.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $60.11 on Thursday. The firm has a market capitalization of $51.92 billion, a price-to-earnings ratio of -35.36, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. 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 business has a fifty day moving average of $59.90 and a 200 day moving average of $88.24. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.40%. Marvell Technology’s dividend payout ratio (DPR) is -23.53%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MRVL shares. Cantor Fitzgerald lowered Marvell Technology from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $125.00 to $60.00 in a report on Wednesday, May 7th. Summit Insights lowered Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Rosenblatt Securities restated a “buy” rating and set a $140.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Raymond James set a $110.00 target price on Marvell Technology in a report on Thursday, March 6th. Finally, Benchmark reduced their price target on Marvell Technology from $135.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus target price of $110.69.

Hedge Funds Weigh In On Marvell Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MRVL. Intrepid Financial Planning Group LLC raised its stake in shares of Marvell Technology by 0.3% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock valued at $2,860,000 after buying an additional 90 shares during the last quarter. PDS Planning Inc raised its stake in shares of Marvell Technology by 3.3% during the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock valued at $319,000 after buying an additional 92 shares during the last quarter. Lodestone Wealth Management LLC raised its stake in shares of Marvell Technology by 2.0% during the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after buying an additional 93 shares during the last quarter. Valley National Advisers Inc. raised its stake in shares of Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after buying an additional 96 shares during the last quarter. Finally, Private Trust Co. NA raised its stake in shares of Marvell Technology by 2.7% during the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock valued at $414,000 after buying an additional 97 shares during the last quarter. Hedge funds and other 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.