Marvell Technology, Inc. (NASDAQ:MRVL) EVP Mark Casper Sells 2,500 Shares

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the transaction, the executive vice president now directly owns 24,706 shares in the company, valued at $2,791,778. The trade was a 9.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Marvell Technology Stock Performance

MRVL traded up $0.83 on Monday, hitting $119.01. 15,246,710 shares of the company traded hands, compared to its average volume of 12,033,658. The company has a 50 day moving average of $100.53 and a 200-day moving average of $81.32. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $126.15. The stock has a market capitalization of $102.98 billion, a PE ratio of -70.01, a PEG ratio of 4.03 and a beta of 1.41. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The company 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. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.20%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Hedge Funds Weigh In On Marvell Technology

A number of large investors have recently bought and sold shares of the company. Davidson Kempner Capital Management LP increased its stake 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 period. Braun Stacey Associates Inc. purchased a new stake in Marvell Technology in the 3rd quarter valued at approximately $16,435,000. Charles Schwab Investment Management Inc. increased its position in Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after purchasing an additional 66,654 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Marvell Technology by 23.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after buying an additional 535,203 shares in the last quarter. Finally, Franchise Capital Ltd acquired a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $1,476,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MRVL. Needham & Company LLC increased their price objective on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Cantor Fitzgerald raised their price target on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Loop Capital boosted their price objective on Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Stifel Nicolaus increased their target price on Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday. Finally, B. Riley boosted their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $120.64.

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.