Insider Selling: Marvell Technology, Inc. (NASDAQ:MRVL) EVP Sells $342,850.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVLGet Free Report) EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $68.57, for a total transaction of $342,850.00. Following the completion of the sale, the executive vice president now directly owns 119,719 shares of the company’s stock, valued at $8,209,131.83. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

  • On Monday, April 15th, Chris Koopmans sold 5,000 shares of Marvell Technology stock. The stock was sold at an average price of $71.25, for a total transaction of $356,250.00.
  • On Friday, March 15th, Chris Koopmans sold 5,000 shares of Marvell Technology stock. The stock was sold at an average price of $66.44, for a total transaction of $332,200.00.

Marvell Technology Stock Down 1.6 %

NASDAQ MRVL opened at $71.92 on Friday. 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 12-month low of $43.51 and a 12-month high of $85.76. The company has a 50 day moving average price of $68.66 and a two-hundred day moving average price of $64.59.

Marvell Technology (NASDAQ:MRVLGet Free Report) last released its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. The business 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%. Marvell Technology’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 EPS. Research analysts predict that Marvell Technology, Inc. will post 0.73 EPS for the current year.

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

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 12th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Thursday, April 11th. Marvell Technology’s payout ratio is -22.22%.

Wall Street Analysts Forecast Growth

MRVL has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research note on Friday, April 12th. Summit Insights upgraded Marvell Technology from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price objective on shares of Marvell Technology in a report on Friday, April 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $86.00 price objective on shares of Marvell Technology in a research note on Friday, April 12th. Finally, Citigroup reissued a “buy” rating and issued a $91.00 target price on shares of Marvell Technology in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target of $81.28.

Read Our Latest Stock Report on Marvell Technology

Hedge Funds Weigh In On Marvell Technology

A number of institutional investors have recently modified their holdings of MRVL. Bruce G. Allen Investments LLC boosted its holdings in shares of Marvell Technology by 56.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after buying an additional 141 shares during the period. SJS Investment Consulting Inc. grew its position in shares of Marvell Technology by 56.8% in the fourth 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 last quarter. Salomon & Ludwin LLC acquired a new stake in shares of Marvell Technology in the first quarter valued at about $31,000. Buck Wealth Strategies LLC lifted its position in shares of Marvell Technology by 1,328.1% during the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 425 shares during the last quarter. Finally, Optimum Investment Advisors acquired a new position in shares of Marvell Technology during the 1st quarter worth about $35,000. Institutional investors own 83.51% of the company’s stock.

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.

See Also

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

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