Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans Sells 5,000 Shares of Stock

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $57.33, for a total value of $286,650.00. Following the completion of the transaction, the executive vice president now directly owns 129,492 shares of the company’s stock, valued at $7,423,776.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Chris Koopmans also recently made the following trade(s):

• On Monday, October 16th, Chris Koopmans sold 5,000 shares of Marvell Technology stock. The shares were sold at an average price of $52.62, for a total transaction of $263,100.00.
• On Friday, September 15th, Chris Koopmans sold 2,000 shares of Marvell Technology stock. The shares were sold at an average price of $55.57, for a total transaction of $111,140.00.

Marvell Technology Stock Down 4.4 %

NASDAQ MRVL opened at $54.66 on Friday. The company has a quick ratio of 0.65, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. Marvell Technology, Inc. has a 52 week low of $33.75 and a 52 week high of $67.99. The business’s fifty day simple moving average is $52.56 and its 200-day simple moving average is $55.45. The firm has a market cap of $47.16 billion, a PE ratio of -124.23, a P/E/G ratio of 7.08 and a beta of 1.42.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, August 24th. The semiconductor company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. Marvell Technology had a negative net margin of 6.74% and a positive return on equity of 6.13%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the business posted $0.41 EPS. Marvell Technology’s revenue was down 11.6% on a year-over-year basis. As a group, equities analysts anticipate that Marvell Technology, Inc. will post 0.88 earnings per share for the current year.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Friday, October 6th were given a $0.06 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $0.24 annualized dividend and a yield of 0.44%. Marvell Technology’s payout ratio is -54.55%.

Wall Street Analyst Weigh In

MRVL has been the topic of a number of analyst reports. Barclays raised their target price on Marvell Technology from $55.00 to $75.00 in a research report on Thursday, July 20th. Susquehanna upped their target price on Marvell Technology from $60.00 to $70.00 and gave the stock a “positive” rating in a research note on Wednesday, August 23rd. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. Stifel Nicolaus upped their price objective on shares of Marvell Technology from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $70.00 target price on shares of Marvell Technology in a research report on Friday, August 25th. Two analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.11.

Institutional Investors Weigh In On Marvell Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRVL. West Tower Group LLC acquired a new stake in shares of Marvell Technology during the 2nd quarter worth about $25,000. Buck Wealth Strategies LLC increased its position in shares of Marvell Technology by 1,328.1% during the third quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 425 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Marvell Technology by 216.2% in the 2nd quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 281 shares during the period. Barrett & Company Inc. purchased a new position in shares of Marvell Technology during the 1st quarter worth approximately $26,000. Finally, Lindbrook Capital LLC increased its holdings in Marvell Technology by 67.6% in the 2nd quarter. Lindbrook Capital LLC now owns 429 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 83.32% of the company’s stock.

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, scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.