Insider Selling: Marvell Technology, Inc. (NASDAQ:MRVL) EVP Sells 2,500 Shares of Stock

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Mark Casper sold 2,500 shares of the company’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 completion of 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 accessible through the SEC website.

Marvell Technology Price Performance

MRVL stock traded up $0.83 during mid-day trading on Monday, reaching $119.01. The company’s stock had a trading volume of 15,246,710 shares, compared to its average volume of 12,033,658. 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 company’s 50 day moving average is $100.53 and its two-hundred day moving average is $81.32. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. The stock has a market cap of $102.98 billion, a PE ratio of -70.01, a P/E/G 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. Investors of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.20%. Marvell Technology’s payout ratio is -14.12%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. UBS Group upped their price target on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Loop Capital upped their target price on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Oppenheimer raised their target price on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Stifel Nicolaus boosted their price target on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday. Finally, Morgan Stanley raised their price objective on shares of Marvell Technology from $102.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $120.64.

Institutional Trading of Marvell Technology

Several large investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC boosted its position in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Marvell Technology in the 2nd quarter valued at about $32,000. Quarry LP acquired a new stake in shares of Marvell Technology during the 2nd quarter worth approximately $32,000. Whittier Trust Co. increased its holdings in shares of Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares during the last quarter. Finally, Goodman Advisory Group LLC acquired a new position in Marvell Technology in the third quarter valued at approximately $37,000. 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.