Marvell Technology, Inc. (NASDAQ:MRVL) EVP Mark Casper Sells 2,500 Shares of Stock

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the transaction, the executive vice president now owns 24,706 shares in the company, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Marvell Technology Trading Up 0.7 %

Shares of Marvell Technology stock opened at $119.01 on Tuesday. The company’s fifty day moving average price is $101.24 and its two-hundred day moving average price is $81.64. The firm has a market capitalization of $102.98 billion, a PE ratio of -70.01, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $126.15. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.20%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Citigroup raised their target price on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Stifel Nicolaus boosted their price target on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday. Craig Hallum boosted their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday. Needham & Company LLC lifted their price objective on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company upped their price objective on shares of Marvell Technology from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $120.64.

Institutional Investors Weigh In On Marvell Technology

A number of institutional investors have recently added to or reduced their stakes in the stock. Advance Capital Management Inc. acquired a new position in shares of Marvell Technology in the 4th quarter worth approximately $204,000. Nordea Investment Management AB raised its stake in Marvell Technology by 14.0% during the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after acquiring an additional 571,005 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of Marvell Technology during the fourth quarter valued at $2,216,000. Franchise Capital Ltd acquired a new stake in shares of Marvell Technology in the 4th quarter valued at $1,476,000. Finally, GAMMA Investing LLC grew its holdings in shares of Marvell Technology by 12.2% in the 4th quarter. GAMMA Investing LLC now owns 8,224 shares of the semiconductor company’s stock worth $908,000 after purchasing an additional 891 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

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.