Dan Christman Sells 4,810 Shares of Marvell Technology, Inc. (NASDAQ:MRVL) Stock

Marvell Technology, Inc. (NASDAQ:MRVLGet Rating) EVP Dan Christman sold 4,810 shares of Marvell Technology stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $57.28, for a total value of $275,516.80. Following the completion of the transaction, the executive vice president now owns 108,393 shares in the company, valued at approximately $6,208,751.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Dan Christman also recently made the following trade(s):

  • On Tuesday, March 29th, Dan Christman sold 15,000 shares of Marvell Technology stock. The stock was sold at an average price of $75.87, for a total value of $1,138,050.00.

Shares of MRVL stock traded up $3.05 on Tuesday, hitting $58.28. 8,397,707 shares of the stock were exchanged, compared to its average volume of 11,119,500. The company has a current ratio of 1.80, a quick ratio of 1.28 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $49.58 billion, a PE ratio of -102.28, a P/E/G ratio of 1.98 and a beta of 1.27. Marvell Technology, Inc. has a one year low of $41.25 and a one year high of $93.85. The firm’s 50 day moving average is $63.95 and its two-hundred day moving average is $71.86.

Marvell Technology (NASDAQ:MRVLGet Rating) last issued its quarterly earnings data on Thursday, March 3rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Marvell Technology had a positive return on equity of 5.60% and a negative net margin of 9.44%. The firm’s quarterly revenue was up 68.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 EPS. On average, sell-side analysts expect that Marvell Technology, Inc. will post 1.66 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 27th. Investors of record on Friday, April 8th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, April 7th. This represents a $0.24 dividend on an annualized basis and a yield of 0.41%. Marvell Technology’s dividend payout ratio (DPR) is -44.44%.

MRVL has been the topic of several research reports. B. Riley reduced their price target on Marvell Technology from $115.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, March 4th. Wells Fargo & Company reduced their price target on Marvell Technology from $80.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, March 4th. TheStreet cut Marvell Technology from a “b-” rating to a “c” rating in a report on Friday, March 4th. Susquehanna Bancshares boosted their price target on Marvell Technology from $100.00 to $105.00 in a report on Monday, March 7th. Finally, Summit Insights cut Marvell Technology from a “buy” rating to a “hold” rating in a report on Friday, March 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $95.00.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wahed Invest LLC raised its holdings in shares of Marvell Technology by 3.5% in the 1st quarter. Wahed Invest LLC now owns 9,924 shares of the semiconductor company’s stock valued at $712,000 after acquiring an additional 331 shares in the last quarter. Walleye Capital LLC raised its holdings in shares of Marvell Technology by 1,006.7% during the 1st quarter. Walleye Capital LLC now owns 29,637 shares of the semiconductor company’s stock valued at $2,125,000 after buying an additional 26,959 shares in the last quarter. Wealthfront Advisers LLC raised its holdings in shares of Marvell Technology by 407.1% during the 1st quarter. Wealthfront Advisers LLC now owns 55,823 shares of the semiconductor company’s stock valued at $4,004,000 after buying an additional 44,815 shares in the last quarter. Avalon Investment & Advisory purchased a new position in shares of Marvell Technology during the 1st quarter valued at about $28,359,000. Finally, Virtu Financial LLC raised its holdings in shares of Marvell Technology by 12.7% during the 1st quarter. Virtu Financial LLC now owns 61,516 shares of the semiconductor company’s stock valued at $4,411,000 after buying an additional 6,954 shares in the last quarter. 83.11% of the stock is currently owned by institutional investors and hedge funds.

About Marvell Technology (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.

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