Marvell Technology, Inc. (NASDAQ:MRVL) EVP Sells $282,500.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares in the company, valued at approximately $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Marvell Technology Price Performance

Marvell Technology stock opened at $116.23 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The stock has a market cap of $100.57 billion, a price-to-earnings ratio of -68.37, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. The firm has a 50-day moving average of $101.87 and a two-hundred day moving average of $81.95. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $126.15.

Marvell Technology Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. Marvell Technology’s payout ratio is -14.12%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MRVL. Citizens Financial Group Inc. RI grew its position in shares of Marvell Technology by 1.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after buying an additional 116 shares in the last quarter. Crumly & Associates Inc. grew its holdings 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 acquiring an additional 121 shares in the last quarter. United Capital Management of KS Inc. increased 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 valued at $2,470,000 after purchasing an additional 131 shares during the period. Integrated Wealth Concepts LLC raised its holdings in shares of Marvell Technology by 1.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock valued at $716,000 after purchasing an additional 139 shares in the last quarter. Finally, ASB Consultores LLC lifted its position in shares of Marvell Technology by 3.8% in the 3rd quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock worth $276,000 after purchasing an additional 140 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MRVL has been the topic of several research reports. Evercore ISI lifted their target price on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Citigroup lifted their price objective on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. B. Riley increased their target price on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Susquehanna boosted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, December 4th. Finally, Oppenheimer increased their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus 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.