Insider Selling: Marvell Technology, Inc. (NASDAQ:MRVL) CFO Sells 1,500 Shares of Stock

Marvell Technology, Inc. (NASDAQ:MRVL) CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total transaction of $177,495.00. Following the sale, the chief financial officer now directly owns 111,211 shares in the company, valued at $13,159,597.63. This trade represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $124.76 on Monday. The stock’s 50-day simple moving average is $106.70 and its 200-day simple moving average is $84.64. The firm has a market capitalization of $107.95 billion, a PE ratio of -73.39, a price-to-earnings-growth ratio of 3.76 and a beta of 1.41. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be issued 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%.

Hedge Funds Weigh In On Marvell Technology

Hedge funds have recently made changes to their positions in the company. Tsfg LLC boosted its holdings in shares of Marvell Technology by 7.5% in the fourth quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock valued at $176,000 after acquiring an additional 111 shares during the period. Citizens Financial Group Inc. RI raised its position in Marvell Technology by 1.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock valued at $566,000 after purchasing an additional 116 shares during the last quarter. Crumly & Associates Inc. boosted its stake in Marvell Technology by 1.5% during the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock worth $593,000 after purchasing an additional 121 shares during the period. United Capital Management of KS Inc. grew its position in Marvell Technology by 0.4% during the 3rd quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock worth $2,470,000 after purchasing an additional 131 shares during the last quarter. Finally, Sunflower Bank N.A. raised its holdings in shares of Marvell Technology by 4.8% in the fourth quarter. Sunflower Bank N.A. now owns 3,003 shares of the semiconductor company’s stock valued at $332,000 after buying an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the topic of several recent analyst reports. UBS Group increased their price objective 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. TD Cowen boosted their price objective on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Susquehanna increased their target price on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. Barclays lifted their price target on Marvell Technology from $115.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Benchmark reissued a “buy” rating and issued a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $124.96.

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.