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 dated Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total transaction of $177,495.00. Following the completion of the sale, the chief financial officer now owns 111,211 shares of the company’s stock, valued at approximately $13,159,597.63. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Marvell Technology Stock Up 6.1 %

Shares of MRVL traded up $7.18 during mid-day trading on Friday, hitting $124.76. 14,849,059 shares of the company’s stock were exchanged, compared to its average volume of 10,915,694. The stock’s 50-day moving average is $106.70 and its 200-day moving average is $84.46. 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, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. The company has a market cap of $107.95 billion, a price-to-earnings ratio of -73.39, a P/E/G ratio of 3.76 and a beta of 1.41.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a $0.06 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.19%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Hedge Funds Weigh In On Marvell Technology

Institutional investors have recently modified their holdings of the business. True Wealth Design LLC raised its stake in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares in the last quarter. ORG Partners LLC increased its holdings in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Marvell Technology in the 2nd quarter valued at about $32,000. Quarry LP purchased a new position in shares of Marvell Technology in the 2nd quarter valued at about $32,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Marvell Technology in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Ratings Changes

MRVL has been the subject of a number of analyst reports. Stifel Nicolaus upped their price target on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Barclays upped their target price on Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a report on Friday. The Goldman Sachs Group lifted their price target on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Benchmark reissued a “buy” rating and issued a $135.00 price objective (up previously from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Finally, Evercore ISI lifted their target price 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 and twenty-four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $123.08.

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.