Marvell Technology, Inc. (NASDAQ:MRVL) CAO Sells $98,312.50 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL) CAO Panteha Dixon sold 1,430 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the transaction, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at $2,138,125. This trade represents a 4.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $68.28 on Wednesday. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The firm has a market capitalization of $59.13 billion, a PE ratio of -40.16, a PEG ratio of 1.61 and a beta of 1.42. The business’s 50 day moving average is $101.86 and its 200-day moving average is $93.89. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. UBS Group increased their price objective on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Susquehanna increased their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, December 4th. Raymond James set a $110.00 price objective on Marvell Technology in a research note on Thursday, March 6th. Summit Insights downgraded Marvell Technology from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, William Blair raised Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $120.44.

Institutional Trading of Marvell Technology

Institutional investors have recently modified their holdings of the company. True Wealth Design LLC boosted its stake in Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 326 shares in the last quarter. ORG Partners LLC boosted its stake in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Marvell Technology in the 4th quarter valued at $26,000. Rialto Wealth Management LLC acquired a new stake in Marvell Technology in the 4th quarter valued at $27,000. Finally, Kieckhefer Group LLC acquired a new stake in Marvell Technology in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

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.