Marvell Technology, Inc. (NASDAQ:MRVL) CFO Sells $177,495.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL) CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the transaction, the chief financial officer now owns 111,211 shares in the company, valued at $13,159,597.63. This trade represents a 1.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Marvell Technology Stock Up 6.1 %

NASDAQ MRVL opened at $124.76 on Monday. The company has a fifty day moving average of $106.70 and a two-hundred day moving average of $84.64. The firm has a market capitalization of $107.95 billion, a price-to-earnings ratio of -73.39, a PEG ratio of 3.76 and a beta of 1.41. 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, Inc. has a 52 week low of $53.19 and a 52 week high of $126.15.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.19%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of recent research reports. UBS Group lifted their price target on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Craig Hallum boosted 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. Wells Fargo & Company raised their price target on Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. KeyCorp boosted their target price on shares of Marvell Technology from $95.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Bank of America raised their price objective on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target of $124.96.

Institutional Investors Weigh In On Marvell Technology

A number of institutional investors and hedge funds have recently modified their holdings of MRVL. Tsfg LLC grew its holdings in shares of Marvell Technology by 7.5% in the fourth quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock worth $176,000 after purchasing an additional 111 shares during the last quarter. Citizens Financial Group Inc. RI increased its stake in shares of Marvell Technology by 1.5% during the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock valued at $566,000 after buying an additional 116 shares during the period. Crumly & Associates Inc. raised its holdings in shares of Marvell Technology by 1.5% in the third quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock valued at $593,000 after acquiring an additional 121 shares in the last quarter. United Capital Management of KS Inc. lifted its stake in Marvell Technology by 0.4% in the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock worth $2,470,000 after acquiring an additional 131 shares during the period. Finally, Sunflower Bank N.A. grew its holdings in Marvell Technology by 4.8% during the 4th quarter. Sunflower Bank N.A. now owns 3,003 shares of the semiconductor company’s stock worth $332,000 after acquiring an additional 138 shares in the last quarter. 83.51% of the stock is 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.