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

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now owns 93,931 shares of the company’s stock, valued at $11,685,016.40. This represents a 6.00 % decrease in their ownership of the stock. The sale 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 Monday, December 16th, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The shares were sold at an average price of $122.50, for a total value of $735,000.00.
• On Friday, November 15th, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00.

Marvell Technology Price Performance

Shares of MRVL stock traded up $0.85 during trading hours on Thursday, reaching $126.06. 9,484,551 shares of the company were exchanged, compared to its average volume of 10,883,458. The stock’s fifty day moving average is $108.68 and its two-hundred day moving average is $85.65. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The company has a market cap of $109.08 billion, a price-to-earnings ratio of -74.15, a P/E/G ratio of 4.07 and a beta of 1.41. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.19%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is presently -14.12%.

Analyst Ratings Changes

A number of research firms have weighed in on MRVL. Wells Fargo & Company upped their price objective on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Bank of America lifted their price target on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Loop Capital raised their price objective on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, Craig Hallum lifted their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $125.38.

Institutional Investors Weigh In On Marvell Technology

Several large investors have recently made changes to their positions in MRVL. True Wealth Design LLC grew its position in Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares in the last quarter. ORG Partners LLC raised its stake in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Marvell Technology in the 2nd quarter worth about $32,000. Quarry LP bought a new position in Marvell Technology in the 2nd quarter valued at about $32,000. Finally, Kieckhefer Group LLC bought a new position in Marvell Technology in the 4th quarter valued at about $33,000. Institutional investors own 83.51% 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 and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.