Marvell Technology, Inc. (NASDAQ:MRVL) CAO Panteha Dixon Sells 1,430 Shares

Marvell Technology, Inc. (NASDAQ:MRVL) CAO Panteha Dixon sold 1,430 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the sale, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Marvell Technology Stock Performance

Shares of MRVL traded down $1.11 during mid-day trading on Tuesday, hitting $69.29. The company’s stock had a trading volume of 5,181,425 shares, compared to its average volume of 12,644,529. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. The stock’s 50-day moving average is $102.82 and its two-hundred day moving average is $93.95. The firm has a market capitalization of $60.01 billion, a PE ratio of -40.73, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Intrepid Financial Planning Group LLC boosted its holdings in shares of Marvell Technology by 0.3% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock worth $2,860,000 after acquiring an additional 90 shares in the last quarter. PDS Planning Inc lifted its holdings in Marvell Technology by 3.3% in the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock valued at $319,000 after buying an additional 92 shares during the period. Lodestone Wealth Management LLC grew its stake in shares of Marvell Technology by 2.0% during the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock worth $514,000 after purchasing an additional 93 shares during the period. Valley National Advisers Inc. raised its position in shares of Marvell Technology by 0.4% in the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after acquiring an additional 96 shares during the period. Finally, Private Trust Co. NA raised its holdings in Marvell Technology by 2.7% in the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after purchasing an additional 97 shares during the period. Institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

MRVL has been the subject of several research analyst reports. William Blair raised Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Bank of America decreased their price target on shares of Marvell Technology from $150.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Stifel Nicolaus decreased their target price on shares of Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Oppenheimer upped their price target on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Evercore ISI boosted their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $120.44.

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.