Marvell Technology, Inc. (NASDAQ:MRVL) CFO Willem A. Meintjes Sells 1,500 Shares

Marvell Technology, Inc. (NASDAQ:MRVL) CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $103,245.00. Following the sale, the chief financial officer now directly owns 113,592 shares of the company’s stock, valued at approximately $7,818,537.36. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Marvell Technology Stock Performance

NASDAQ MRVL traded down $2.12 on Tuesday, hitting $68.28. 11,604,922 shares of the stock traded hands, compared to its average volume of 12,669,186. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The business’s fifty day moving average is $102.82 and its two-hundred day moving average is $93.95. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The firm has a market capitalization of $59.13 billion, a price-to-earnings ratio of -40.16, a PEG ratio of 1.61 and a beta of 1.42.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MRVL. Swedbank AB lifted its holdings in Marvell Technology by 1.0% during the third quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after purchasing an additional 23,680 shares during the last quarter. Atlanta Consulting Group Advisors LLC bought a new stake in shares of Marvell Technology in the third quarter valued at approximately $272,000. Braun Stacey Associates Inc. purchased a new stake in shares of Marvell Technology during the 3rd quarter valued at approximately $16,435,000. Strengthening Families & Communities LLC boosted its holdings in Marvell Technology by 8.8% in the 3rd quarter. Strengthening Families & Communities LLC now owns 33,428 shares of the semiconductor company’s stock worth $2,411,000 after buying an additional 2,717 shares during the period. Finally, Belmont Capital LLC purchased a new position in Marvell Technology in the 3rd quarter valued at approximately $1,082,000. Institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. 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. KeyCorp cut their price target on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Roth Capital set a $100.00 price objective on Marvell Technology in a report on Thursday, March 6th. Finally, Benchmark reiterated a “buy” rating and issued a $135.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and an average price target of $120.44.

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.