Insider Selling: Marvell Technology, Inc. (NASDAQ:MRVL) CFO Sells 1,500 Shares of 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 Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Marvell Technology Price Performance

Shares of MRVL opened at $112.25 on Wednesday. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $126.15. The firm has a market capitalization of $97.13 billion, a PE ratio of -66.03, a price-to-earnings-growth ratio of 3.72 and a beta of 1.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company’s fifty day moving average price is $91.00 and its 200-day moving average price is $77.15.

Marvell Technology Dividend Announcement

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 $0.06 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Marvell Technology’s dividend payout ratio is currently -14.12%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price target on Marvell Technology from $82.00 to $102.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. Rosenblatt Securities increased their price target on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Oppenheimer upped their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Evercore ISI boosted their price target on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Finally, Citigroup boosted their target price on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target of $119.04.

Institutional Trading of Marvell Technology

Large investors have recently modified their holdings of the stock. Davidson Kempner Capital Management LP increased its holdings in shares of Marvell Technology by 26.5% in the 2nd quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock valued at $17,482,000 after acquiring an additional 52,365 shares during the period. Braun Stacey Associates Inc. purchased a new stake in Marvell Technology during the third quarter worth $16,435,000. Charles Schwab Investment Management Inc. increased its position in shares of Marvell Technology by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after buying an additional 66,654 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in Marvell Technology by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after acquiring an additional 535,203 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Marvell Technology in the 3rd quarter valued at approximately $3,432,000. Hedge funds and other 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.