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 firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the transaction, the chief accounting officer now directly owns 31,100 shares in the company, valued at $2,138,125. This trade represents a 4.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Marvell Technology Price Performance

Shares of MRVL opened at $70.49 on Friday. The stock has a market capitalization of $61.05 billion, a P/E ratio of -41.46, a P/E/G ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The company has a 50 day moving average of $99.94 and a 200-day moving average of $93.56. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Hedge Funds Weigh In On Marvell Technology

Hedge funds have recently made changes to their positions in the business. True Wealth Design LLC grew its stake in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares in the last quarter. ORG Partners LLC grew its stake in shares of Marvell Technology by 175.3% in the fourth 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 bought a new position in shares of Marvell Technology in the fourth quarter valued at $26,000. Rialto Wealth Management LLC bought a new position in shares of Marvell Technology in the fourth quarter valued at $27,000. Finally, Kieckhefer Group LLC bought a new position in shares of Marvell Technology in the fourth quarter valued at $33,000. 83.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on MRVL. B. Riley raised their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Bank of America cut their price target on shares of Marvell Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Evercore ISI increased their price target 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. Finally, Needham & Company LLC cut their price target on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.44.

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.