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 Marvell Technology stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the transaction, the chief accounting officer now directly owns 31,100 shares of the company’s stock, valued at $2,138,125. This trade represents a 4.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Marvell Technology Stock Down 3.0 %

NASDAQ MRVL opened at $68.28 on Wednesday. The stock has a market cap of $59.13 billion, a PE ratio of -40.16, a P/E/G ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The business has a 50 day moving average price of $101.86 and a two-hundred day moving average price of $93.89. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Hedge Funds Weigh In On Marvell Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Intrepid Financial Planning Group LLC boosted its stake in Marvell Technology by 0.3% during the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock valued at $2,860,000 after buying an additional 90 shares in the last quarter. PDS Planning Inc boosted its stake in Marvell Technology by 3.3% during 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 in the last quarter. Lodestone Wealth Management LLC boosted its stake in Marvell Technology by 2.0% during the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after buying an additional 93 shares in the last quarter. Valley National Advisers Inc. boosted 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 purchasing an additional 96 shares during the period. Finally, Private Trust Co. NA boosted its position in shares of Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock valued at $414,000 after purchasing an additional 97 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the subject of several research reports. Melius initiated coverage on Marvell Technology in a research note on Monday, January 27th. They set a “buy” rating and a $188.00 price target for the company. Citigroup cut their target price on shares of Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Craig Hallum boosted their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Cantor Fitzgerald boosted their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus 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.