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 stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the sale, the executive vice president now directly owns 24,706 shares in the company, valued at $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Marvell Technology Price Performance

MRVL stock opened at $118.23 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The company’s fifty day moving average price is $101.87 and its 200-day moving average price is $81.95. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $126.15. The company has a market capitalization of $102.30 billion, a PE ratio of -69.55, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.20%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Analyst Ratings Changes

A number of analysts have recently issued reports on MRVL shares. Rosenblatt Securities raised their price target on shares of Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday. B. Riley boosted their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Bank of America raised their price target on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler reiterated an “overweight” rating and set a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.64.

Institutional Investors Weigh In On Marvell Technology

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

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.