Marvell Technology, Inc. (NASDAQ:MRVL) Director Michael G. Strachan Sells 5,000 Shares

Marvell Technology, Inc. (NASDAQ:MRVL) Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $122.65, for a total value of $613,250.00. Following the sale, the director now directly owns 30,959 shares of the company’s stock, valued at $3,797,121.35. This represents a 13.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Marvell Technology Stock Performance

Marvell Technology stock traded up $2.00 during trading on Wednesday, reaching $118.23. The company had a trading volume of 8,362,899 shares, compared to its average volume of 11,032,892. The firm has a market capitalization of $102.30 billion, a price-to-earnings ratio of -69.55, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. 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 firm’s 50-day simple moving average is $101.87 and its 200 day simple moving average is $81.95. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $126.15.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.20%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio is -14.12%.

Hedge Funds Weigh In On Marvell Technology

Several large investors have recently added to or reduced their stakes in the company. Michael S. Ryan Inc. bought a new stake in shares of Marvell Technology during the 4th quarter valued at $274,000. Regent Peak Wealth Advisors LLC purchased a new stake in Marvell Technology in the 4th quarter worth $200,000. Diversified Trust Co raised its holdings in Marvell Technology by 5.2% during the fourth quarter. Diversified Trust Co now owns 9,414 shares of the semiconductor company’s stock valued at $1,040,000 after acquiring an additional 464 shares during the period. Advance Capital Management Inc. purchased a new position in Marvell Technology in the 4th quarter worth approximately $204,000. Finally, Nordea Investment Management AB boosted its stake in Marvell Technology by 14.0% in the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after purchasing an additional 571,005 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Marvell Technology from $110.00 to $130.00 and gave the stock an “overweight” 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 research note on Monday. B. Riley increased their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. TD Cowen lifted their price target on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Benchmark restated a “buy” rating and issued a $135.00 target price (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.64.

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.