Marvell Technology, Inc. (NASDAQ:MRVL) CAO Panteha Dixon Sells 1,286 Shares

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) CAO Panteha Dixon sold 1,286 shares of Marvell Technology stock in a transaction on Monday, May 12th. The shares were sold at an average price of $65.00, for a total transaction of $83,590.00. Following the transaction, the chief accounting officer now owns 32,094 shares in the company, valued at $2,086,110. The trade was a 3.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Panteha Dixon also recently made the following trade(s):

• On Monday, March 17th, Panteha Dixon sold 1,430 shares of Marvell Technology stock. The shares were sold at an average price of $68.75, for a total value of $98,312.50.

Marvell Technology Stock Performance

MRVL stock traded up $0.98 during mid-day trading on Tuesday, reaching $65.48. The company had a trading volume of 19,692,171 shares, compared to its average volume of 13,964,692. The stock has a market capitalization of $56.56 billion, a P/E ratio of -38.52, a P/E/G ratio of 1.61 and a beta of 1.83. The stock's 50-day simple moving average is $60.68 and its two-hundred day simple moving average is $89.28. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48. 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 Announces Dividend

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

Institutional Trading of Marvell Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. 17 Capital Partners LLC lifted its stake in Marvell Technology by 202.4% during the first quarter. 17 Capital Partners LLC now owns 12,850 shares of the semiconductor company's stock valued at $791,000 after purchasing an additional 8,600 shares during the last quarter. Corient IA LLC bought a new position in shares of Marvell Technology in the first quarter valued at $246,000. Northwest & Ethical Investments L.P. acquired a new stake in shares of Marvell Technology during the 1st quarter valued at $16,346,000. Tyler Stone Wealth Management grew its holdings in shares of Marvell Technology by 12.6% in the 1st quarter. Tyler Stone Wealth Management now owns 4,736 shares of the semiconductor company's stock worth $292,000 after acquiring an additional 531 shares during the last quarter. Finally, Tocqueville Asset Management L.P. raised its position in shares of Marvell Technology by 46.2% during the first quarter. Tocqueville Asset Management L.P. now owns 512,961 shares of the semiconductor company's stock worth $31,583,000 after purchasing an additional 162,200 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MRVL. KeyCorp lowered their target price on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Melius started coverage on Marvell Technology in a report on Monday, January 27th. They issued a "buy" rating and a $188.00 price target for the company. Melius Research upgraded shares of Marvell Technology to a "strong-buy" rating in a research note on Monday, January 27th. Piper Sandler reduced their target price on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. Finally, Needham & Company LLC lowered their price target on shares of Marvell Technology from $120.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology currently has an average rating of "Moderate Buy" and a consensus price target of $110.30.

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.

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