Willem A. Meintjes Sells 1,000 Shares of Marvell Technology, Inc. (NASDAQ:MRVL) Stock

Marvell Technology, Inc. (NASDAQ:MRVLGet Free Report) CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $71.50, for a total transaction of $71,500.00. Following the transaction, the chief financial officer now owns 101,986 shares in the company, valued at $7,291,999. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Marvell Technology Stock Performance

Marvell Technology stock opened at $73.03 on Thursday. The firm’s fifty day moving average price is $69.93 and its 200-day moving average price is $60.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69. The stock has a market cap of $63.24 billion, a P/E ratio of -67.62, a price-to-earnings-growth ratio of 5.37 and a beta of 1.50. Marvell Technology, Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $85.76.

Marvell Technology (NASDAQ:MRVLGet Free Report) last released its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm earned $0.34 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts expect that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Thursday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -22.22%.

Marvell Technology announced that its Board of Directors has initiated a share repurchase program on Thursday, March 7th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 4.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Marvell Technology

A number of large investors have recently added to or reduced their stakes in the company. Adirondack Trust Co. lifted its position in shares of Marvell Technology by 757.3% in the 4th quarter. Adirondack Trust Co. now owns 2,126 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 1,878 shares during the period. HighPoint Advisor Group LLC purchased a new stake in shares of Marvell Technology in the 4th quarter worth about $419,000. PNC Financial Services Group Inc. lifted its position in shares of Marvell Technology by 5.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 60,016 shares of the semiconductor company’s stock worth $3,620,000 after purchasing an additional 3,109 shares during the period. Vanguard Group Inc. lifted its position in shares of Marvell Technology by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 72,342,362 shares of the semiconductor company’s stock worth $4,362,968,000 after purchasing an additional 1,890,753 shares during the period. Finally, Wahed Invest LLC lifted its position in shares of Marvell Technology by 6.5% in the 4th quarter. Wahed Invest LLC now owns 14,593 shares of the semiconductor company’s stock worth $880,000 after purchasing an additional 888 shares during the period. Institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Oppenheimer restated an “outperform” rating and set a $80.00 price target (up from $70.00) on shares of Marvell Technology in a report on Thursday, February 29th. Citigroup restated a “buy” rating and set a $91.00 price target on shares of Marvell Technology in a report on Wednesday, March 27th. Raymond James lifted their price objective on shares of Marvell Technology from $62.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Morgan Stanley lifted their price objective on shares of Marvell Technology from $63.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 7th. Finally, StockNews.com lowered shares of Marvell Technology from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $75.75.

Read Our Latest Report on MRVL

Marvell Technology Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Marvell Technology (NASDAQ:MRVL)

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