Marvell Technology, Inc. (NASDAQ:MRVL) CFO Sells $90,000.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $60.00, for a total transaction of $90,000.00. Following the completion of the sale, the chief financial officer now owns 124,348 shares of the company's stock, valued at approximately $7,460,880. This trade represents a 1.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Marvell Technology Price Performance

Shares of Marvell Technology stock traded up $1.38 during trading on Friday, hitting $62.33. The stock had a trading volume of 15,614,512 shares, compared to its average volume of 13,690,579. The business has a fifty day moving average of $64.84 and a two-hundred day moving average of $90.17. The firm has a market cap of $53.98 billion, a P/E ratio of -36.66, a PEG ratio of 1.61 and a beta of 1.83. 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 current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. Marvell Technology's dividend payout ratio is currently -23.53%.

Institutional Trading of Marvell Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Kingsview Wealth Management LLC grew its position in Marvell Technology by 59.6% in the first quarter. Kingsview Wealth Management LLC now owns 12,101 shares of the semiconductor company's stock worth $745,000 after buying an additional 4,517 shares during the last quarter. Graypoint LLC raised its position in shares of Marvell Technology by 8.7% during the first quarter. Graypoint LLC now owns 4,366 shares of the semiconductor company's stock worth $269,000 after purchasing an additional 348 shares during the period. Hudock Inc. boosted its position in shares of Marvell Technology by 178.2% in the 1st quarter. Hudock Inc. now owns 6,672 shares of the semiconductor company's stock valued at $411,000 after purchasing an additional 4,274 shares during the period. Mechanics Financial Corp purchased a new position in Marvell Technology in the 1st quarter worth about $238,000. Finally, Kornitzer Capital Management Inc. KS raised its holdings in Marvell Technology by 111.6% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 21,541 shares of the semiconductor company's stock worth $1,326,000 after buying an additional 11,360 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Bank of America dropped their target price on shares of Marvell Technology from $120.00 to $72.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Craig Hallum lifted their target price on Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Needham & Company LLC dropped their price target on Marvell Technology from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. William Blair raised shares of Marvell Technology to a "strong-buy" rating in a report on Wednesday, February 5th. Finally, StockNews.com upgraded shares of Marvell Technology from a "sell" rating to a "hold" rating in a research note on Thursday, January 9th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $114.56.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.