Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans Sells 6,000 Shares of Stock

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the sale, the executive vice president now owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. This trade represents a 5.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, October 21st, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The stock was sold at an average price of $80.77, for a total value of $484,620.00.

Marvell Technology Price Performance

Marvell Technology stock opened at $88.71 on Tuesday. The business has a 50 day simple moving average of $79.28 and a 200 day simple moving average of $72.96. Marvell Technology, Inc. has a one year low of $50.35 and a one year high of $95.09. The company has a market capitalization of $78.61 billion, a PE ratio of -79.92, a price-to-earnings-growth ratio of 3.82 and a beta of 1.44. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 EPS. On average, sell-side analysts forecast that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Friday, October 11th. Marvell Technology’s payout ratio is -21.62%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MRVL. Bank of America lifted their target price on shares of Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Benchmark boosted their price objective on Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Rosenblatt Securities increased their target price on Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Loop Capital assumed coverage on Marvell Technology in a research report on Monday, November 11th. They issued a “hold” rating and a $95.00 price target on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $91.77.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MRVL. State Street Corp raised its position in Marvell Technology by 0.3% in the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after purchasing an additional 68,893 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Marvell Technology by 13.4% in the first quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock valued at $955,400,000 after buying an additional 1,591,874 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Marvell Technology by 24.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after buying an additional 2,254,610 shares in the last quarter. Geode Capital Management LLC grew its holdings in Marvell Technology by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock worth $818,916,000 after acquiring an additional 219,692 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Marvell Technology by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock worth $627,034,000 after acquiring an additional 359,005 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

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.