Marvell Technology, Inc. (NASDAQ:MRVL) CFO Willem A. Meintjes Sells 1,500 Shares

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

Marvell Technology Price Performance

Marvell Technology stock opened at $112.25 on Wednesday. The business’s fifty day moving average is $91.00 and its two-hundred day moving average is $77.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm has a market cap of $97.13 billion, a P/E ratio of -66.03, a P/E/G ratio of 3.72 and a beta of 1.46. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $126.15.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Wall Street Analysts Forecast Growth

MRVL has been the subject of a number of recent analyst reports. Benchmark reiterated a “buy” rating and issued a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Wells Fargo & Company boosted their target price on shares of Marvell Technology from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Susquehanna raised their target price on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, December 4th. Loop Capital lifted their target price on Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Finally, Bank of America upped their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Three equities research 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.04.

Hedge Funds Weigh In On Marvell Technology

Hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC raised its position in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares during the last quarter. Quarry LP bought a new stake in shares of Marvell Technology in the second quarter worth about $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in Marvell Technology during the 2nd quarter worth approximately $32,000. Whittier Trust Co. lifted its stake in Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 210 shares in the last quarter. Finally, Goodman Advisory Group LLC acquired a new position in shares of Marvell Technology in the third quarter valued at approximately $37,000. Institutional investors own 83.51% of the company’s stock.

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.