Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans Sells 2,000 Shares

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans sold 2,000 shares of Marvell Technology stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $55.57, for a total value of $111,140.00. Following the sale, the executive vice president now directly owns 134,737 shares in the company, valued at approximately $7,487,335.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, August 15th, Chris Koopmans sold 2,000 shares of Marvell Technology stock. The shares were sold at an average price of $59.36, for a total value of $118,720.00.
• On Monday, July 17th, Chris Koopmans sold 2,000 shares of Marvell Technology stock. The stock was sold at an average price of $63.56, for a total value of $127,120.00.

Marvell Technology Stock Up 0.5 %

MRVL traded up $0.29 during trading on Monday, reaching $54.78. 7,070,453 shares of the stock traded hands, compared to its average volume of 12,689,994. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.65. Marvell Technology, Inc. has a fifty-two week low of $33.75 and a fifty-two week high of $67.99. The stock’s 50-day simple moving average is $60.13 and its two-hundred day simple moving average is $52.06. The stock has a market cap of $47.26 billion, a price-to-earnings ratio of -124.30, a price-to-earnings-growth ratio of 6.91 and a beta of 1.43.

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

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Friday, October 6th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.44%. Marvell Technology’s dividend payout ratio (DPR) is currently -54.55%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MRVL. Evercore ISI increased their target price on shares of Marvell Technology from $60.00 to $70.00 in a research report on Friday, May 26th. StockNews.com initiated coverage on shares of Marvell Technology in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Barclays upped their target price on Marvell Technology from $55.00 to $75.00 in a research report on Thursday, July 20th. Morgan Stanley lowered their price target on Marvell Technology from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Friday, August 25th. Finally, Wolfe Research assumed coverage on Marvell Technology in a report on Wednesday, July 19th. They issued an “outperform” rating and a $80.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average price target of $66.73.

Institutional Trading of Marvell Technology

Several large investors have recently made changes to their positions in MRVL. FMR LLC lifted its holdings in Marvell Technology by 0.4% in the 1st quarter. FMR LLC now owns 128,532,727 shares of the semiconductor company’s stock worth $5,565,467,000 after purchasing an additional 555,578 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of Marvell Technology by 118,898.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 62,452,538 shares of the semiconductor company’s stock worth $2,313,242,000 after buying an additional 62,400,056 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Marvell Technology by 10.9% during the 2nd quarter. BlackRock Inc. now owns 58,468,789 shares of the semiconductor company’s stock worth $3,495,264,000 after buying an additional 5,739,560 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Marvell Technology by 123.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,009,812 shares of the semiconductor company’s stock valued at $1,819,025,000 after buying an additional 23,220,407 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in Marvell Technology by 13,107.9% in the 2nd quarter. Capital Research Global Investors now owns 32,634,677 shares of the semiconductor company’s stock worth $1,950,859,000 after acquiring an additional 32,387,593 shares during the period. 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.