Insider Selling: Marvell Technology, Inc. (NASDAQ:MRVL) EVP Sells $356,250.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $71.25, for a total value of $356,250.00. Following the sale, the executive vice president now directly owns 109,117 shares in the company, valued at $7,774,586.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, March 15th, Chris Koopmans sold 5,000 shares of Marvell Technology stock. The shares were sold at an average price of $66.44, for a total transaction of $332,200.00.
• On Thursday, February 15th, Chris Koopmans sold 5,000 shares of Marvell Technology stock. The shares were sold at an average price of $67.98, for a total transaction of $339,900.00.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $62.13 on Friday. The firm has a market cap of $53.80 billion, a PE ratio of -57.53, a PEG ratio of 4.86 and a beta of 1.50. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.27. Marvell Technology, Inc. has a 1-year low of $36.90 and a 1-year high of $85.76. The company has a fifty day moving average price of $70.12 and a 200 day moving average price of $62.20.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 EPS. Research analysts predict that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

Marvell Technology announced that its Board of Directors has approved a stock repurchase program on Thursday, March 7th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 4.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.39%. Marvell Technology’s dividend payout ratio (DPR) is presently -22.22%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Summit Insights upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating in a research note on Friday, March 8th. Morgan Stanley lifted their target price on shares of Marvell Technology from $63.00 to $84.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. Raymond James lifted their target price on shares of Marvell Technology from $62.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Roth Mkm reiterated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research note on Friday, April 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price objective on shares of Marvell Technology in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and an average price target of $81.13.

Institutional Investors Weigh In On Marvell Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in MRVL. Bruce G. Allen Investments LLC raised its holdings in shares of Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 141 shares during the period. SJS Investment Consulting Inc. raised its holdings in shares of Marvell Technology by 56.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 155 shares during the period. Blue Trust Inc. raised its holdings in shares of Marvell Technology by 23.4% in the 4th quarter. Blue Trust Inc. now owns 817 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 155 shares during the period. Versant Capital Management Inc raised its holdings in shares of Marvell Technology by 34.7% in the 4th quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 161 shares during the period. Finally, Edmond DE Rothschild Holding S.A. raised its holdings in shares of Marvell Technology by 0.5% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 30,764 shares of the semiconductor company’s stock valued at $1,855,000 after purchasing an additional 162 shares during the period. 83.51% of the stock is owned by institutional investors.

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 and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.