Michael G. Strachan Sells 5,000 Shares of Marvell Technology, Inc. (NASDAQ:MRVL) Stock

Marvell Technology, Inc. (NASDAQ:MRVL) Director Michael G. Strachan sold 5,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $122.65, for a total value of $613,250.00. Following the transaction, the director now directly owns 30,959 shares in the company, valued at $3,797,121.35. The trade was a 13.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Marvell Technology Trading Up 1.7 %

Shares of Marvell Technology stock opened at $118.23 on Friday. 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 cap of $102.30 billion, a price-to-earnings ratio of -69.55, a PEG ratio of 4.03 and a beta of 1.41. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $126.15. The business has a 50-day moving average price of $102.58 and a 200-day moving average price of $82.20.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.20%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Davidson Kempner Capital Management LP raised its stake in 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 valued at $17,482,000 after purchasing an additional 52,365 shares in the last quarter. Braun Stacey Associates Inc. purchased a new stake in shares of Marvell Technology during the 3rd quarter valued at about $16,435,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Marvell Technology by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after acquiring an additional 66,654 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in Marvell Technology by 23.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after acquiring an additional 535,203 shares in the last quarter. Finally, Franchise Capital Ltd bought a new stake in Marvell Technology during the fourth quarter worth approximately $1,476,000. 83.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Rosenblatt Securities increased their target price on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. TD Cowen increased their price objective on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on shares of Marvell Technology from $87.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Citigroup increased their price target on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Evercore ISI boosted their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.64.

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.