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

Marvell Technology, Inc. (NASDAQ:MRVL) CAO Panteha Dixon sold 1,430 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was 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 owns 31,100 shares in the company, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Marvell Technology Stock Up 2.2 %

Marvell Technology stock opened at $69.81 on Thursday. The company has a market capitalization of $60.46 billion, a P/E ratio of -41.06, a P/E/G ratio of 1.61 and a beta of 1.42. The firm’s fifty day simple moving average is $100.89 and its 200-day simple moving average is $93.72. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Morgan Stanley dropped their target price on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Stifel Nicolaus reduced their target price on shares of Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Rosenblatt Securities restated a “buy” rating and set a $140.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Oppenheimer raised their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a report on Thursday, March 6th. Three research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology during the 4th quarter valued at $26,000. ORG Partners LLC raised its holdings in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Rialto Wealth Management LLC bought a new position in Marvell Technology in the 4th quarter worth $27,000. Kieckhefer Group LLC bought a new position in Marvell Technology in the 4th quarter worth $33,000. Finally, Financial Life Planners bought a new position in Marvell Technology in the 4th quarter worth $33,000. Institutional investors own 83.51% of the company’s stock.

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.