Marvell Technology, Inc. (NASDAQ:MRVL) CAO Panteha Dixon Sells 1,286 Shares of Stock

Marvell Technology, Inc. (NASDAQ:MRVL) CAO Panteha Dixon sold 1,286 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $65.00, for a total transaction of $83,590.00. Following the transaction, the chief accounting officer now directly owns 32,094 shares in the company, valued at $2,086,110. The trade was a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, March 17th, Panteha Dixon sold 1,430 shares of Marvell Technology stock. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $65.48 on Wednesday. Marvell Technology, Inc. has a 12-month low of $47.09 and a 12-month high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $56.56 billion, a PE ratio of -38.52, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. The firm has a 50-day moving average price of $60.54 and a 200 day moving average price of $89.11.

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 issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.37%. The ex-dividend date was Friday, April 11th. Marvell Technology’s payout ratio is -23.53%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Barclays lowered their target price on shares of Marvell Technology from $130.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley lowered their target price on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. Roth Capital set a $100.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Melius began coverage on shares of Marvell Technology in a report on Monday, January 27th. They set a “buy” rating and a $188.00 price target for the company. Finally, Piper Sandler decreased their price target on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $111.27.

Institutional Trading of Marvell Technology

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

About Marvell Technology

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.