Marvell Technology, Inc. (NASDAQ:MRVL) EVP Sells $484,620.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the sale, the executive vice president now directly owns 109,244 shares in the company, valued at $8,823,637.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Marvell Technology Price Performance

Shares of MRVL stock opened at $81.61 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The company has a market capitalization of $72.32 billion, a P/E ratio of -73.52, a P/E/G ratio of 3.62 and a beta of 1.45. The company’s 50-day simple moving average is $73.67 and its two-hundred day simple moving average is $70.57. Marvell Technology, Inc. has a one year low of $46.07 and a one year high of $85.76.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the firm earned $0.18 earnings per share. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, equities analysts anticipate that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be issued a $0.06 dividend. The ex-dividend date is Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.29%. Marvell Technology’s dividend payout ratio is presently -21.62%.

Institutional Investors Weigh In On Marvell Technology

A number of hedge funds have recently made changes to their positions in the stock. Salomon & Ludwin LLC purchased a new stake in Marvell Technology during the first quarter valued at approximately $31,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Marvell Technology during the 2nd quarter valued at $32,000. Quarry LP acquired a new stake in shares of Marvell Technology in the 2nd quarter worth $32,000. Mark Sheptoff Financial Planning LLC purchased a new position in Marvell Technology during the 1st quarter worth $35,000. Finally, Whittier Trust Co. increased its position in Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 210 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MRVL has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. Bank of America lifted their price objective on shares of Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Rosenblatt Securities upped their target price on shares of Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Evercore ISI lifted their price target on Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Finally, Roth Mkm restated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.62.

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.