Insider Selling: Marvell Technology, Inc. (NASDAQ:MRVL) CFO 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 dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $103,245.00. Following the transaction, the chief financial officer now directly owns 113,592 shares in the company, valued at $7,818,537.36. The trade was a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Marvell Technology Price Performance

Marvell Technology stock opened at $68.28 on Wednesday. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The business’s 50 day simple moving average is $101.86 and its 200 day simple moving average is $93.89. The company has a market cap of $59.13 billion, a price-to-earnings ratio of -40.16, a PEG ratio of 1.61 and a beta of 1.42.

Institutional Investors Weigh In On Marvell Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Centricity Wealth Management LLC bought a new position in Marvell Technology in the fourth quarter valued at $26,000. ORG Partners LLC increased its stake in 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 acquiring an additional 149 shares during the last quarter. Rialto Wealth Management LLC purchased a new stake in Marvell Technology during the fourth quarter valued at about $27,000. Kieckhefer Group LLC purchased a new stake in Marvell Technology during the fourth quarter valued at about $33,000. Finally, Financial Life Planners purchased a new stake in Marvell Technology during the fourth quarter valued at about $33,000. Institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on MRVL shares. UBS Group lifted their target price on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Needham & Company LLC lowered their price objective on Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Piper Sandler lowered their price objective 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. Loop Capital raised 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. Finally, B. Riley lifted their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Marvell Technology 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.