Panteha Dixon Sells 1,283 Shares of Marvell Technology, Inc. (NASDAQ:MRVL) Stock

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) CAO Panteha Dixon sold 1,283 shares of Marvell Technology stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $68.50, for a total value of $87,885.50. Following the completion of the transaction, the chief accounting officer now directly owns 29,572 shares of the company's stock, valued at $2,025,682. This represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, May 15th, Panteha Dixon sold 1,239 shares of Marvell Technology stock. The stock was sold at an average price of $65.01, for a total value of $80,547.39.
• On Monday, May 12th, Panteha Dixon sold 1,286 shares of Marvell Technology stock. The stock was sold at an average price of $65.00, for a total value of $83,590.00.

Marvell Technology Stock Up 4.8%

Shares of MRVL traded up $3.23 during midday trading on Monday, hitting $70.42. The stock had a trading volume of 19,661,373 shares, compared to its average volume of 14,784,964. The firm has a market cap of $60.83 billion, a price-to-earnings ratio of -41.42, a price-to-earnings-growth ratio of 1.61 and a beta of 1.76. The company has a 50 day simple moving average of $60.30 and a two-hundred day simple moving average of $85.13. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month 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 (NASDAQ:MRVL - Get Free Report) last announced its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. Marvell Technology had a positive return on equity of 4.59% and a negative net margin of 27.49%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the firm earned $0.24 EPS. Marvell Technology's revenue for the quarter was up 63.3% compared to the same quarter last year. On average, analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Friday, July 11th. Marvell Technology's payout ratio is -42.11%.

Analysts Set New Price Targets

MRVL has been the topic of several recent research reports. Morgan Stanley raised their target price on shares of Marvell Technology from $70.00 to $73.00 and gave the company an "equal weight" rating in a research note on Friday, May 30th. Evercore ISI lowered their target price on shares of Marvell Technology from $135.00 to $133.00 and set an "outperform" rating for the company in a report on Friday, May 30th. Stifel Nicolaus cut their price target on Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Melius Research cut Marvell Technology from a "strong-buy" rating to a "hold" rating and set a $66.00 price objective for the company. in a research note on Thursday, May 22nd. Finally, UBS Group reiterated a "buy" rating on shares of Marvell Technology in a report on Monday, June 2nd. Seven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $94.73.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Marvell Technology by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 63,770,122 shares of the semiconductor company's stock worth $3,926,326,000 after buying an additional 1,212,338 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Marvell Technology by 32.3% during the first quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock worth $1,272,117,000 after acquiring an additional 5,050,159 shares in the last quarter. Brown Advisory Inc. boosted its position in Marvell Technology by 2.2% during the first quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company's stock valued at $1,188,333,000 after purchasing an additional 423,892 shares during the last quarter. Invesco Ltd. grew its stake in Marvell Technology by 30.1% in the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock valued at $1,784,649,000 after purchasing an additional 3,737,705 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Marvell Technology by 6.9% during the 4th quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company's stock worth $1,462,274,000 after purchasing an additional 857,087 shares during the last quarter. Institutional investors own 83.51% of the company's stock.

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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