Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the sale, the chief financial officer now owns 111,211 shares of the company's stock, valued at approximately $13,159,597.63. This trade represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Marvell Technology Price Performance
MRVL traded up $7.18 during trading on Friday, hitting $124.76. The company's stock had a trading volume of 14,849,059 shares, compared to its average volume of 10,915,694. The firm has a market capitalization of $107.95 billion, a price-to-earnings ratio of -73.39, a P/E/G ratio of 3.76 and a beta of 1.41. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $126.15. The business's fifty day simple moving average is $106.70 and its 200 day simple moving average is $84.46. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.
Marvell Technology Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be paid 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 0.19%. Marvell Technology's dividend payout ratio is currently -14.12%.
Hedge Funds Weigh In On Marvell Technology
A number of large investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. raised its position in shares of Marvell Technology by 21.3% during the 2nd quarter. Federated Hermes Inc. now owns 49,412 shares of the semiconductor company's stock worth $3,454,000 after purchasing an additional 8,666 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new position in shares of Marvell Technology during the second quarter valued at approximately $540,000. E Fund Management Co. Ltd. lifted its position in shares of Marvell Technology by 7.9% in the second quarter. E Fund Management Co. Ltd. now owns 7,803 shares of the semiconductor company's stock valued at $545,000 after acquiring an additional 572 shares in the last quarter. Argent Trust Co boosted its stake in shares of Marvell Technology by 4.2% in the second quarter. Argent Trust Co now owns 6,753 shares of the semiconductor company's stock worth $472,000 after acquiring an additional 275 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its position in shares of Marvell Technology by 21.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 33,540 shares of the semiconductor company's stock worth $2,344,000 after purchasing an additional 5,969 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently commented on MRVL shares. KeyCorp increased their price objective 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. StockNews.com raised shares of Marvell Technology from a "sell" rating to a "hold" rating in a report on Thursday, January 9th. Rosenblatt Securities boosted their price objective on shares of Marvell Technology from $120.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Bank of America raised their target price on Marvell Technology from $108.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Finally, 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, January 6th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. According to MarketBeat.com, Marvell Technology currently has an average rating of "Moderate Buy" and an average price target of $123.08.
Read Our Latest Stock Report on Marvell Technology
About Marvell Technology
(
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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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