Marvell Technology, Inc. (NASDAQ:MRVL) EVP Sells $954,485.40 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) EVP Mark Casper sold 7,755 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was 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 available at 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 Stock Performance

MRVL stock traded up $7.18 during trading hours on Friday, hitting $124.76. 14,849,059 shares of the stock were exchanged, compared to its average volume of 10,915,694. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $126.15. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a 50-day simple moving average of $106.70 and a two-hundred day simple moving average of $84.46. The firm has a market capitalization 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.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders 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 annualized dividend and a dividend yield of 0.19%. Marvell Technology's payout ratio is -14.12%.

Hedge Funds Weigh In On Marvell Technology

A number of institutional investors have recently added to or reduced their stakes in MRVL. Davidson Kempner Capital Management LP raised its position in shares of Marvell Technology by 26.5% during the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company's stock worth $17,482,000 after acquiring an additional 52,365 shares during the last quarter. Braun Stacey Associates Inc. acquired a new position in shares of Marvell Technology during the third quarter worth approximately $16,435,000. Charles Schwab Investment Management Inc. increased its position in shares of Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company's stock worth $235,247,000 after acquiring an additional 66,654 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Marvell Technology by 23.0% in 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 purchasing an additional 535,203 shares during the last quarter. Finally, Franchise Capital Ltd purchased a new position in Marvell Technology during the 4th quarter worth $1,476,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Craig Hallum increased 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. Loop Capital raised their price objective on shares of Marvell Technology from $95.00 to $110.00 and gave the company a "hold" rating in a research report on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Bank of America increased their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Finally, Oppenheimer raised their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. According to data from MarketBeat.com, Marvell Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.08.

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.

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