Marvell Technology, Inc. (NASDAQ:MRVL) EVP Sells $238,750.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVLGet Rating) EVP Mitchell Gaynor sold 5,000 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $47.75, for a total value of $238,750.00. Following the completion of the transaction, the executive vice president now owns 108,429 shares of the company’s stock, valued at $5,177,484.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Mitchell Gaynor also recently made the following trade(s):

  • On Friday, July 15th, Mitchell Gaynor sold 5,000 shares of Marvell Technology stock. The shares were sold at an average price of $47.67, for a total value of $238,350.00.

Marvell Technology Price Performance

Shares of MRVL opened at $46.35 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.93 and a debt-to-equity ratio of 0.25. Marvell Technology, Inc. has a 1 year low of $41.07 and a 1 year high of $93.85. The stock has a market cap of $39.52 billion, a P/E ratio of -178.27, a price-to-earnings-growth ratio of 1.89 and a beta of 1.51. The stock’s 50-day moving average price is $51.02 and its two-hundred day moving average price is $56.01.

Marvell Technology (NASDAQ:MRVLGet Rating) last released its quarterly earnings data on Thursday, August 25th. The semiconductor company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.01. Marvell Technology had a positive return on equity of 7.94% and a negative net margin of 3.95%. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the business posted $0.21 EPS. Marvell Technology’s revenue for the quarter was up 41.0% on a year-over-year basis. On average, equities analysts predict that Marvell Technology, Inc. will post 1.61 earnings per share for the current year.

Hedge Funds Weigh In On Marvell Technology

Several institutional investors have recently modified their holdings of MRVL. MUFG Americas Holdings Corp lifted its holdings in shares of Marvell Technology by 90.2% during the 1st quarter. MUFG Americas Holdings Corp now owns 369 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 175 shares in the last quarter. Covestor Ltd acquired a new stake in Marvell Technology in the 4th quarter valued at approximately $28,000. Canton Hathaway LLC acquired a new stake in Marvell Technology in the 2nd quarter valued at approximately $28,000. Arlington Partners LLC acquired a new stake in Marvell Technology in the 2nd quarter valued at approximately $29,000. Finally, Deseret Mutual Benefit Administrators raised its position in Marvell Technology by 140.3% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 668 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 390 shares during the last quarter. Institutional investors own 80.95% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Susquehanna Bancshares dropped their price objective on Marvell Technology from $105.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, May 25th. Cowen dropped their price objective on Marvell Technology from $100.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, May 27th. Craig Hallum dropped their price objective on Marvell Technology to $90.00 in a research note on Friday, May 27th. Barclays dropped their price objective on Marvell Technology from $80.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, July 25th. Finally, B. Riley lowered Marvell Technology from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $75.00 to $63.00 in a research note on Wednesday, June 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $81.21.

Marvell Technology Company Profile

(Get Rating)

Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors.

Further Reading

Insider Buying and Selling by Quarter for Marvell Technology (NASDAQ:MRVL)

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