Marvell Technology, Inc. (NASDAQ:MRVL) EVP Mark Casper Sells 7,755 Shares of Stock

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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 Trading Up 6.1 %

NASDAQ:MRVL opened at $124.76 on Friday. The company has a market capitalization of $107.95 billion, a PE ratio of -73.39, a price-to-earnings-growth ratio of 3.76 and a beta of 1.41. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $126.15. The stock has a fifty day simple moving average of $106.70 and a 200-day simple moving average of $84.46. 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 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 issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Tsfg LLC grew its holdings in Marvell Technology by 7.5% during the 4th quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock valued at $176,000 after buying an additional 111 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of Marvell Technology by 1.5% during the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock valued at $566,000 after acquiring an additional 116 shares during the last quarter. Crumly & Associates Inc. boosted its stake in shares of Marvell Technology by 1.5% during the third quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock valued at $593,000 after acquiring an additional 121 shares during the last quarter. United Capital Management of KS Inc. raised its stake in Marvell Technology by 0.4% in the 3rd quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after purchasing an additional 131 shares during the last quarter. Finally, Sunflower Bank N.A. lifted its holdings in Marvell Technology by 4.8% in the 4th quarter. Sunflower Bank N.A. now owns 3,003 shares of the semiconductor company’s stock valued at $332,000 after purchasing an additional 138 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MRVL. Oppenheimer upped their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. increased their price objective on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Evercore ISI lifted their target price on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, The Goldman Sachs Group lifted their price objective 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. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology presently has an average 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.