Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans Sells 6,000 Shares

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the transaction, the executive vice president now owns 103,244 shares of the company’s stock, valued at $9,203,170.16. This represents a 5.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, October 21st, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00.

Marvell Technology Stock Up 0.7 %

MRVL stock opened at $89.34 on Wednesday. The company has a 50 day moving average of $79.64 and a two-hundred day moving average of $73.10. The company has a market cap of $79.17 billion, a price-to-earnings ratio of -80.49, a PEG ratio of 3.82 and a beta of 1.44. Marvell Technology, Inc. has a 12-month low of $50.35 and a 12-month high of $95.09. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the company earned $0.18 earnings per share. Marvell Technology’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities analysts anticipate that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.27%. Marvell Technology’s dividend payout ratio is currently -21.62%.

Hedge Funds Weigh In On Marvell Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Davidson Kempner Capital Management LP raised its holdings in shares of Marvell Technology by 26.5% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock valued at $17,482,000 after purchasing an additional 52,365 shares in the last quarter. Braun Stacey Associates Inc. bought a new position in Marvell Technology during the third quarter valued at about $16,435,000. Diversified Trust Co bought a new position in Marvell Technology during the second quarter valued at about $932,000. Orion Portfolio Solutions LLC lifted its position in shares of Marvell Technology by 47.1% in the first quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock worth $2,282,000 after buying an additional 10,306 shares during the last quarter. Finally, WD Rutherford LLC boosted its stake in shares of Marvell Technology by 182.5% during the 3rd quarter. WD Rutherford LLC now owns 18,266 shares of the semiconductor company’s stock worth $1,317,000 after acquiring an additional 11,801 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MRVL. Citigroup restated a “buy” rating and issued a $91.00 target price on shares of Marvell Technology in a research report on Monday, October 14th. Stifel Nicolaus reaffirmed a “buy” rating and set a $95.00 target price (up previously from $90.00) on shares of Marvell Technology in a research note on Friday, August 30th. Rosenblatt Securities boosted their price target on shares of Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Evercore ISI raised their price objective on shares of Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $100.00 target price on shares of Marvell Technology in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.77.

Marvell Technology Company Profile

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.