Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) EVP Mark Casper sold 12,460 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Marvell Technology Stock Up 6.6 %
Marvell Technology stock opened at $57.33 on Friday. The company has a market capitalization of $49.65 billion, a PE ratio of -33.72, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. The firm has a 50 day moving average price of $69.50 and a 200 day moving average price of $90.68.
Marvell Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.42%. Marvell Technology's dividend payout ratio is presently -23.53%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on MRVL. Loop Capital raised shares of Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price target on the stock in a research note on Thursday, March 6th. William Blair upgraded Marvell Technology to a "strong-buy" rating in a research report on Wednesday, February 5th. Piper Sandler dropped their price target on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. Benchmark restated a "buy" rating and issued a $135.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Finally, Raymond James set a $110.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Marvell Technology currently has a consensus rating of "Moderate Buy" and an average price target of $114.56.
Read Our Latest Stock Report on Marvell Technology
Hedge Funds Weigh In On Marvell Technology
Several hedge funds have recently bought and sold shares of MRVL. Zweig DiMenna Associates LLC lifted its position in shares of Marvell Technology by 6.3% during the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock worth $23,583,000 after purchasing an additional 12,700 shares in the last quarter. Berbice Capital Management LLC purchased a new stake in Marvell Technology during the 4th quarter worth approximately $637,000. RFG Advisory LLC lifted its holdings in Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock worth $4,708,000 after buying an additional 2,507 shares in the last quarter. Franchise Capital Ltd acquired a new stake in Marvell Technology during the 4th quarter worth approximately $1,476,000. Finally, United Asset Strategies Inc. boosted its position in Marvell Technology by 7.1% in the 4th quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company's stock valued at $24,287,000 after buying an additional 14,547 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.
Marvell Technology Company Profile
(
Get Free Report)
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.
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