Marvell Technology, Inc. (NASDAQ:MRVL) Director Sells $613,250.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL) Director Michael G. Strachan sold 5,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the completion of the sale, the director now directly owns 30,959 shares in the company, valued at approximately $3,797,121.35. The trade was a 13.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL opened at $114.32 on Friday. The company has a market capitalization of $98.92 billion, a price-to-earnings ratio of -67.25, a P/E/G ratio of 4.03 and a beta of 1.41. The firm’s 50 day simple moving average is $103.34 and its 200 day simple moving average is $82.45. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $126.15.

Marvell Technology Announces Dividend

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 given 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 dividend payout ratio is -14.12%.

Institutional Trading of Marvell Technology

Large investors have recently bought and sold shares of the business. True Wealth Design LLC increased its stake in Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares in the last quarter. ORG Partners LLC increased its stake 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 in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Marvell Technology during the 2nd quarter worth approximately $32,000. Quarry LP bought a new stake in Marvell Technology during the 2nd quarter worth approximately $32,000. Finally, Whittier Trust Co. increased its stake in Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 210 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on MRVL. Benchmark reissued a “buy” rating and set a $135.00 price objective (up previously from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Morgan Stanley increased their price objective on shares of Marvell Technology from $102.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Piper Sandler reissued an “overweight” rating and set a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Oppenheimer increased their price objective 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 increased their price objective on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $121.28.

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.