Mark Casper Sells 7,755 Shares of Marvell Technology, Inc. (NASDAQ:MRVL) Stock

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Thursday, January 2nd, Mark Casper sold 2,500 shares of Marvell Technology stock. The stock was sold at an average price of $113.00, for a total value of $282,500.00.

Marvell Technology Trading Up 6.1 %

Shares of NASDAQ MRVL opened at $124.76 on Friday. 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 stock has a market capitalization of $107.95 billion, a PE ratio of -73.39, a PEG ratio of 3.76 and a beta of 1.41. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $126.15. The stock has a fifty day simple moving average of $106.70 and a 200-day simple moving average of $84.55.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Institutional Investors Weigh In On Marvell Technology

Several large investors have recently added to or reduced their stakes in MRVL. ORG Partners LLC grew its stake in shares of Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares in the last quarter. Kieckhefer Group LLC acquired a new position in Marvell Technology during the 4th quarter worth $33,000. True Wealth Design LLC increased its holdings in Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares during the period. Quarry LP acquired a new stake in Marvell Technology in the 2nd quarter valued at about $32,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Marvell Technology in the 2nd quarter valued at about $32,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MRVL has been the topic of a number of research reports. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. The Goldman Sachs Group boosted their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Rosenblatt Securities increased their price objective 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. Oppenheimer boosted 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. Finally, Barclays increased their price target on Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus target price of $123.08.

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.