Insider Selling: Marvell Technology, Inc. (NASDAQ:MRVL) CFO Sells $103,245.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL) CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $7,818,537.36. The trade was a 1.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Marvell Technology Trading Up 1.0 %

Shares of NASDAQ:MRVL opened at $70.49 on Friday. The firm has a market cap of $61.05 billion, a price-to-earnings ratio of -41.46, a PEG ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company’s fifty day simple moving average is $99.94 and its 200 day simple moving average is $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.

Institutional Trading of Marvell Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Intrepid Financial Planning Group LLC boosted its position in shares of Marvell Technology by 0.3% during the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock worth $2,860,000 after buying an additional 90 shares during the period. PDS Planning Inc boosted its position in Marvell Technology by 3.3% during the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock worth $319,000 after acquiring an additional 92 shares during the last quarter. Lodestone Wealth Management LLC grew its stake in shares of Marvell Technology by 2.0% during the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock worth $514,000 after acquiring an additional 93 shares in the last quarter. Valley National Advisers Inc. raised its holdings in shares of Marvell Technology by 0.4% in the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after purchasing an additional 96 shares during the last quarter. Finally, Private Trust Co. NA lifted its position in shares of Marvell Technology by 2.7% in the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on MRVL shares. 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 note on Monday, December 2nd. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Benchmark reaffirmed a “buy” rating and set a $135.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Citigroup lowered their price objective on Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Finally, Stifel Nicolaus cut their target price on shares of Marvell Technology from $130.00 to $115.00 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 assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price 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.