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 on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the transaction, the chief financial officer now directly owns 111,211 shares in the company, valued at $13,159,597.63. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Marvell Technology Trading Up 6.1 %

Shares of NASDAQ MRVL opened at $124.76 on Friday. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $126.15. The business’s 50 day moving average price is $106.70 and its 200 day moving average price 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s payout ratio is presently -14.12%.

Institutional Investors Weigh In On Marvell Technology

Several hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC lifted its stake in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the period. ORG Partners LLC increased its holdings in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Marvell Technology in the second quarter worth about $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 during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MRVL. Evercore ISI raised their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Needham & Company LLC boosted their price objective on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Citigroup increased their target price on Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Benchmark reissued a “buy” rating and issued a $135.00 price target (up from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Finally, TD Cowen raised their price objective on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.