Marvell Technology, Inc. (NASDAQ:MRVL) CAO Sells $80,547.39 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) CAO Panteha Dixon sold 1,239 shares of Marvell Technology stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $65.01, for a total transaction of $80,547.39. Following the completion of the sale, the chief accounting officer now directly owns 30,855 shares in the company, valued at approximately $2,005,883.55. This represents a 3.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, May 12th, Panteha Dixon sold 1,286 shares of Marvell Technology stock. The shares were sold at an average price of $65.00, for a total transaction of $83,590.00.
• 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 Price Performance

NASDAQ:MRVL traded down $0.70 during trading hours on Thursday, hitting $65.20. 9,947,544 shares of the company's stock traded hands, compared to its average volume of 14,008,192. Marvell Technology, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48. The business's fifty day simple moving average is $60.44 and its two-hundred day simple moving average is $88.95. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm has a market cap of $56.32 billion, a P/E ratio of -38.35, a P/E/G ratio of 1.61 and a beta of 1.83.

Marvell Technology Dividend Announcement

The firm also recently disclosed 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. This represents a $0.24 annualized dividend and a dividend yield of 0.37%. The ex-dividend date was Friday, April 11th. Marvell Technology's payout ratio is -23.53%.

Analyst Ratings Changes

MRVL has been the subject of a number of recent research reports. KeyCorp decreased their target price on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. Citigroup decreased their price objective on Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a report on Friday, April 11th. Barclays dropped their price objective on shares of Marvell Technology from $130.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Benchmark reduced their target price on shares of Marvell Technology from $135.00 to $95.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $140.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Marvell Technology presently has an average rating of "Moderate Buy" and an average price target of $111.27.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MRVL. Zweig DiMenna Associates LLC lifted its holdings in shares of Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock worth $23,583,000 after acquiring an additional 12,700 shares during the last quarter. Berbice Capital Management LLC bought a new position in shares of Marvell Technology during the 4th quarter valued at about $637,000. RFG Advisory LLC raised its holdings in shares of Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock valued at $4,708,000 after buying an additional 2,507 shares in the last quarter. United Asset Strategies Inc. boosted its stake in Marvell Technology by 7.1% in the fourth quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company's stock worth $24,287,000 after buying an additional 14,547 shares in the last quarter. Finally, Prudent Investors Network Inc. bought a new position in Marvell Technology during the fourth quarter valued at approximately $248,000. 83.51% of the stock is currently owned by institutional investors.

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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