Insider Selling: Marvell Technology, Inc. (NASDAQ:MRVL) EVP Sells 626 Shares of Stock

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) EVP Mark Casper sold 626 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $61.10, for a total transaction of $38,248.60. Following the transaction, the executive vice president now owns 626 shares of the company's stock, valued at $38,248.60. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Mark Casper also recently made the following trade(s):

• On Wednesday, April 23rd, Mark Casper sold 12,460 shares of Marvell Technology stock. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00.

Marvell Technology Stock Performance

Shares of MRVL stock traded down $1.20 on Monday, hitting $62.56. The company's stock had a trading volume of 20,282,143 shares, compared to its average volume of 14,060,323. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The stock's 50 day moving average is $60.36 and its 200-day moving average is $88.78. The company has a market capitalization of $54.04 billion, a PE ratio of -36.80, a PEG ratio of 1.61 and a beta of 1.83.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.38%. Marvell Technology's dividend payout ratio is presently -23.53%.

Institutional Investors Weigh In On Marvell Technology

Several institutional investors have recently made changes to their positions in the stock. Centricity Wealth Management LLC bought a new stake in shares of Marvell Technology during the 4th quarter valued at $26,000. Hughes Financial Services LLC bought a new stake in Marvell Technology during the first quarter worth about $26,000. Rialto Wealth Management LLC acquired a new stake in Marvell Technology during the fourth quarter worth about $27,000. Rossby Financial LCC acquired a new stake in Marvell Technology during the first quarter worth about $27,000. Finally, Financial Connections Group Inc. increased its holdings in Marvell Technology by 776.0% in the 1st quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company's stock valued at $27,000 after buying an additional 388 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MRVL. Needham & Company LLC decreased their price objective on Marvell Technology from $120.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Melius started coverage on Marvell Technology in a research note on Monday, January 27th. They issued a "buy" rating and a $188.00 price target for the company. Rosenblatt Securities reiterated a "buy" rating and set a $140.00 price objective on shares of Marvell Technology in a research note on Thursday, March 6th. Raymond James set a $110.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Finally, Wells Fargo & Company restated an "overweight" rating on shares of Marvell Technology in a report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $110.69.

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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