Marvell Technology, Inc. (NASDAQ:MRVL) EVP Mark Casper Sells 7,755 Shares

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Mark Casper also recently made the following trade(s):

• On Thursday, January 2nd, Mark Casper sold 2,500 shares of Marvell Technology stock. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00.

Marvell Technology Trading Up 6.1 %

NASDAQ:MRVL opened at $124.76 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $126.15. The stock has a market cap of $107.95 billion, a P/E ratio of -73.39, a P/E/G ratio of 3.76 and a beta of 1.41. The stock has a 50-day simple moving average of $106.70 and a 200-day simple moving average of $84.64.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid 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 -14.12%.

Institutional Trading of Marvell Technology

Several hedge funds have recently made changes to their positions in the company. True Wealth Design LLC increased its holdings in Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 326 shares in the last quarter. ORG Partners LLC grew its holdings in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of Marvell Technology in the 2nd quarter worth $32,000. Quarry LP purchased a new stake in shares of Marvell Technology during the 2nd quarter worth about $32,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology in the fourth quarter worth $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MRVL. Barclays raised their price target on Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a report on Friday. Rosenblatt Securities raised their price objective on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Stifel Nicolaus boosted their target price on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Piper Sandler reissued an “overweight” rating and issued a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Finally, Craig Hallum raised their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $124.96.

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.