Marvell Technology, Inc. (NASDAQ:MRVL) CFO Willem A. Meintjes Sells 1,500 Shares of Stock

Marvell Technology, Inc. (NASDAQ:MRVL) CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $103,245.00. Following the completion of the sale, the chief financial officer now owns 113,592 shares in the company, valued at $7,818,537.36. This trade represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Marvell Technology Trading Down 3.0 %

Shares of MRVL stock opened at $68.28 on Wednesday. The stock’s fifty day moving average price is $101.86 and its two-hundred day moving average price is $93.89. The company has a market cap of $59.13 billion, a PE ratio of -40.16, a P/E/G ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Institutional Investors Weigh In On Marvell Technology

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MRVL. Benchmark reiterated a “buy” rating and issued a $135.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Susquehanna lifted their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. Piper Sandler lowered their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. The Goldman Sachs Group lifted their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Finally, Loop Capital raised shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.44.

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.