Insider Selling: Marvell Technology, Inc. (NASDAQ:MRVL) CAO Sells 1,239 Shares of Stock

Marvell Technology, Inc. (NASDAQ:MRVL) CAO Panteha Dixon sold 1,239 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $65.01, for a total transaction of $80,547.39. Following the completion of the transaction, the chief accounting officer now owns 30,855 shares of the company’s stock, valued at $2,005,883.55. This trade represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Panteha Dixon also recently made the following trade(s):

• On Monday, May 12th, Panteha Dixon sold 1,286 shares of Marvell Technology stock. The shares were sold at an average price of $65.00, for a total transaction of $83,590.00.
• On Monday, March 17th, Panteha Dixon sold 1,430 shares of Marvell Technology stock. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50.

Marvell Technology Trading Down 2.2%

NASDAQ MRVL opened at $63.76 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. The company has a market capitalization of $55.08 billion, a price-to-earnings ratio of -37.51, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. The company’s 50-day simple moving average is $60.36 and its two-hundred day simple moving average is $88.68. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date was Friday, April 11th. Marvell Technology’s payout ratio is currently -23.53%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MRVL. Norges Bank acquired a new stake in Marvell Technology in the 4th quarter worth approximately $1,138,354,000. GQG Partners LLC acquired a new stake in Marvell Technology during the 4th quarter valued at approximately $802,410,000. Nuveen Asset Management LLC lifted its stake in Marvell Technology by 232.2% during the 4th quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company’s stock valued at $1,033,859,000 after acquiring an additional 6,543,132 shares during the period. Nuveen LLC acquired a new stake in Marvell Technology during the 1st quarter valued at approximately $399,587,000. Finally, Goldman Sachs Group Inc. lifted its stake in Marvell Technology by 32.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company’s stock valued at $1,272,117,000 after acquiring an additional 5,050,159 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Melius began coverage on shares of Marvell Technology in a report on Monday, January 27th. They set a “buy” rating and a $188.00 target price for the company. Benchmark cut their price target on shares of Marvell Technology from $135.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Roth Capital set a $100.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Wells Fargo & Company reiterated an “overweight” rating on shares of Marvell Technology in a research note on Thursday, March 6th. Finally, Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average target price of $111.27.

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.