Insider Selling: Marvell Technology, Inc. (NASDAQ:MRVL) CFO Sells 1,500 Shares of Stock

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $64.75, for a total value of $97,125.00. Following the transaction, the chief financial officer now owns 122,848 shares in the company, valued at approximately $7,954,408. This represents a 1.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Marvell Technology Stock Down 1.1%

Shares of MRVL traded down $0.70 during mid-day trading on Thursday, hitting $65.20. 9,947,544 shares of the company traded hands, compared to its average volume of 14,008,192. The business has a 50 day moving average of $60.44 and a 200 day moving average of $88.95. The company has a market capitalization of $56.32 billion, a PE ratio of -38.35, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were issued a $0.06 dividend. The ex-dividend date was Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.37%. Marvell Technology's dividend payout ratio is currently -23.53%.

Institutional Investors Weigh In On Marvell Technology

Institutional investors and hedge funds have recently made changes to their positions in the stock. Intrepid Financial Planning Group LLC raised 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 worth $2,860,000 after purchasing an additional 90 shares during the period. PDS Planning Inc grew its stake in shares of Marvell Technology by 3.3% in the 4th 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 during the period. Lodestone Wealth Management LLC increased its holdings in shares of Marvell Technology by 2.0% during the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock worth $514,000 after buying an additional 93 shares during the last quarter. Valley National Advisers Inc. increased its holdings in shares of Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company's stock worth $2,775,000 after buying an additional 96 shares during the last quarter. Finally, Private Trust Co. NA raised its position in shares of Marvell Technology by 2.7% during the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock valued at $414,000 after buying an additional 97 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MRVL has been the topic of several recent research reports. William Blair upgraded shares of Marvell Technology to a "strong-buy" rating in a report on Wednesday, February 5th. Citigroup lowered their price target on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Bank of America dropped their price objective on shares of Marvell Technology from $120.00 to $72.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Stifel Nicolaus reduced their price objective on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, Loop Capital upgraded 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. Four investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $111.27.

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.

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