Insider Trading Update on Marvell Technology, Inc.

The Chief Financial Officer of Marvell Technology, Inc. (NASDAQ:MRVL), Willem A. Meintjes, has recently sold 1,500 shares of the company's stock. This transaction took place on Monday, December 16th, and the shares were sold at an average price of $122.50 each. As a result, the total value of the transaction amounted to $183,750. After this sale, Meintjes now holds 112,711 shares of Marvell Technology, which are valued at approximately $13,807,097.50. This sale translates to a 1.31% decrease in his ownership stake in the company. The details of the transaction were made public through a legal filing with the Securities and Exchange Commission (SEC).

Current Stock Performance

Marvell Technology’s stock is currently experiencing a downturn, as it traded down by $12.53 during midday trading on Tuesday, bringing the share price down to $112.25. The trading volume for the day reached 32,129,573 shares, significantly higher than the company’s average volume of 12,578,731 shares. Marvell's fifty-day moving average price is noted at $91.00 while the 200-day moving average stands at $77.15. The company has a market capitalization of approximately $97.13 billion. Additionally, it has displayed a debt-to-equity ratio of 0.30, a current ratio of 1.60, and a quick ratio of 1.11. Over the past year, the stock has seen a low of $53.19 and a high of $126.15.

Dividend Announcement

In addition to the insider trade, Marvell Technology recently announced a quarterly dividend. This dividend is set to be paid on Thursday, January 30th, to investors who are on record by Friday, January 10th. Shareholders will receive a dividend of $0.06 per share, marking an annualized yield of 0.21%. The company’s payout ratio stands at -14.12%, indicating an unusual dividend situation.

Analyst Ratings Update

Recent ratings from several analysts reflect a positive outlook for Marvell Technology. For instance, Cantor Fitzgerald raised their price target on MRVL shares from $120.00 to $135.00, providing the stock with an "overweight" rating as of December 4th. Similarly, TD Cowen increased their target price from $90.00 to $125.00, maintaining a "buy" rating. Other significant updates include Susquehanna’s raise of the price target from $110.00 to $125.00 with a corresponding "positive" rating, and B. Riley boosting their price target to $135.00, still under a "buy" rating. Currently, 24 analysts rate the stock as a buy, while three provide a hold rating, resulting in an average consensus rating of "Moderate Buy" with a price target of $119.04.

Institutional Trading Insights

Recent activity among institutional investors has also influenced Marvell Technology’s stock. Davidson Kempner Capital Management LP recently boosted its stake in the company by 26.5%, now holding 250,000 shares worth around $17,482,000 after acquiring additional shares. Significant positions have also been established by Braun Stacey Associates, Charles Schwab, and Nomura Asset Management. Currently, institutional investors own approximately 83.51% of Marvell's stock, showcasing strong institutional interest in the company.

About Marvell Technology, Inc.

Marvell Technology, Inc. specializes in providing data infrastructure semiconductor solutions that connect the data center core to the network edge. The company is known for its advanced System-on-a-Chip architectures, integrating various types of functionality for enhanced performance.

Marvell, stock, insider, CFO, dividend