Mark Casper Sells 626 Shares of Marvell Technology, Inc. (NASDAQ:MRVL) Stock

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Mark Casper sold 626 shares of the company’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $61.10, for a total transaction of $38,248.60. Following the sale, the executive vice president now directly owns 626 shares in the company, valued at $38,248.60. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Mark Casper also recently made the following trade(s):

• On Wednesday, April 23rd, Mark Casper sold 12,460 shares of Marvell Technology stock. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00.

Marvell Technology Trading Down 1.8%

MRVL opened at $61.42 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. The firm has a market capitalization of $53.06 billion, a PE ratio of -36.13, a P/E/G ratio of 1.61 and a beta of 1.83. The company’s 50-day moving average is $60.07 and its 200 day moving average is $88.44.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.39%. Marvell Technology’s dividend payout ratio is presently -23.53%.

Institutional Investors Weigh In On Marvell Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Zweig DiMenna Associates LLC grew its position in Marvell Technology by 6.3% in the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after purchasing an additional 12,700 shares in the last quarter. Berbice Capital Management LLC bought a new stake in Marvell Technology in the 4th quarter worth about $637,000. RFG Advisory LLC grew its position in Marvell Technology by 6.2% in the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after purchasing an additional 2,507 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Marvell Technology in the 4th quarter worth about $234,000. Finally, United Asset Strategies Inc. grew its position in Marvell Technology by 7.1% in the 4th quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company’s stock worth $24,287,000 after purchasing an additional 14,547 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on MRVL shares. Citigroup cut their price target on shares of Marvell Technology from $122.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Raymond James set a $110.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. TD Cowen cut their price target on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Melius started coverage on shares of Marvell Technology in a research report on Monday, January 27th. They set a “buy” rating and a $188.00 price target on the stock. Finally, Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $110.69.

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.