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 stock in a transaction on 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 SEC, 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 shares were sold at an average price of $113.00, for a total value of $282,500.00.

Marvell Technology Trading Up 6.1 %

Shares of Marvell Technology stock opened at $124.76 on Friday. 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 fifty-two week low of $53.19 and a fifty-two week high of $126.15. The company has a fifty day moving average of $106.70 and a 200 day moving average of $84.46. The company 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. Shareholders of record on Friday, January 10th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.19%. Marvell Technology’s payout ratio is -14.12%.

Wall Street Analysts Forecast Growth

MRVL has been the subject of a number of recent analyst reports. TD Cowen boosted their target price on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley increased their price objective on shares of Marvell Technology from $102.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. UBS Group raised their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Barclays boosted their target price on shares of Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Loop Capital raised their price target on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $123.08.

Institutional Investors Weigh In On Marvell Technology

Several institutional investors and hedge funds have recently modified their holdings of MRVL. Federated Hermes Inc. increased its holdings in Marvell Technology by 21.3% in the 2nd quarter. Federated Hermes Inc. now owns 49,412 shares of the semiconductor company’s stock valued at $3,454,000 after acquiring an additional 8,666 shares during the last quarter. Citizens Financial Group Inc. RI purchased a new stake in shares of Marvell Technology in the second quarter worth about $540,000. E Fund Management Co. Ltd. boosted its stake in Marvell Technology by 7.9% during the second quarter. E Fund Management Co. Ltd. now owns 7,803 shares of the semiconductor company’s stock valued at $545,000 after buying an additional 572 shares during the last quarter. Argent Trust Co grew its holdings in Marvell Technology by 4.2% during the 2nd quarter. Argent Trust Co now owns 6,753 shares of the semiconductor company’s stock valued at $472,000 after buying an additional 275 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in Marvell Technology by 21.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 33,540 shares of the semiconductor company’s stock worth $2,344,000 after acquiring an additional 5,969 shares during the last quarter. 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.