Marvell Technology, Inc. (NASDAQ:MRVL) CEO Matthew J. Murphy Sells 6,000 Shares

Marvell Technology, Inc. (NASDAQ:MRVL) CEO Matthew J. Murphy sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $73.29, for a total value of $439,740.00. Following the sale, the chief executive officer now directly owns 208,915 shares in the company, valued at $15,311,380.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Marvell Technology Stock Down 0.9 %

Marvell Technology stock opened at $72.77 on Wednesday. The firm has a market capitalization of $62.99 billion, a P/E ratio of -64.40, a P/E/G ratio of 3.29 and a beta of 1.46. The company has a 50-day simple moving average of $68.23 and a 200-day simple moving average of $69.80. Marvell Technology, Inc. has a one year low of $46.07 and a one year high of $85.76. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the prior year, the firm earned $0.18 EPS. Marvell Technology’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, equities analysts expect that Marvell Technology, Inc. will post 0.77 earnings per share for the current year.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.33%. The ex-dividend date is Friday, October 11th. Marvell Technology’s dividend payout ratio is currently -21.24%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Marvell Technology during the fourth quarter valued at $511,215,000. Lazard Asset Management LLC grew its position in Marvell Technology by 47,934.4% in the 1st quarter. Lazard Asset Management LLC now owns 4,001,745 shares of the semiconductor company’s stock valued at $283,643,000 after buying an additional 3,993,414 shares in the last quarter. Aspex Management HK Ltd increased its stake in Marvell Technology by 103.8% during the 4th quarter. Aspex Management HK Ltd now owns 5,712,564 shares of the semiconductor company’s stock valued at $344,525,000 after buying an additional 2,908,912 shares during the period. Whale Rock Capital Management LLC bought a new stake in shares of Marvell Technology during the 1st quarter worth about $181,559,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Marvell Technology by 24.1% in the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after acquiring an additional 2,254,610 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MRVL. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a report on Friday, August 30th. The Goldman Sachs Group raised their price objective on shares of Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Oppenheimer reissued an “outperform” rating and issued a $90.00 target price (up previously from $80.00) on shares of Marvell Technology in a research report on Friday, May 31st. Finally, Rosenblatt Securities increased their price target on shares of Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Two analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.62.

Marvell Technology Company Profile

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.