Marvell Technology, Inc. (NASDAQ:MRVL – Get Free Report) CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $120,750.00. Following the completion of the transaction, the chief financial officer now directly owns 110,253 shares of the company’s stock, valued at approximately $8,875,366.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Marvell Technology Price Performance
Marvell Technology stock opened at $79.85 on Friday. The stock has a market capitalization of $69.12 billion, a price-to-earnings ratio of -70.66, a PEG ratio of 3.17 and a beta of 1.45. Marvell Technology, Inc. has a 52-week low of $46.07 and a 52-week high of $85.76. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The stock’s 50 day moving average price is $71.99 and its two-hundred day moving average price is $70.21.
Marvell Technology (NASDAQ:MRVL – Get Free Report) last released its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. Marvell Technology’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 EPS. On average, equities analysts predict that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.
Marvell Technology Dividend Announcement
Institutional Trading of Marvell Technology
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MRVL. Tlwm grew its stake in Marvell Technology by 1.6% in the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock valued at $601,000 after acquiring an additional 136 shares during the period. Bruce G. Allen Investments LLC lifted 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 worth $28,000 after purchasing an additional 141 shares in the last quarter. New Century Financial Group LLC lifted its holdings in shares of Marvell Technology by 3.0% in the 3rd quarter. New Century Financial Group LLC now owns 5,428 shares of the semiconductor company’s stock worth $391,000 after purchasing an additional 156 shares in the last quarter. Parisi Gray Wealth Management grew its position in Marvell Technology by 4.2% in the 3rd quarter. Parisi Gray Wealth Management now owns 4,161 shares of the semiconductor company’s stock valued at $300,000 after purchasing an additional 166 shares during the period. Finally, Sheaff Brock Investment Advisors LLC increased its stake in Marvell Technology by 0.4% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock valued at $3,143,000 after purchasing an additional 168 shares in the last quarter. 83.51% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research firms have recently weighed in on MRVL. Citigroup restated a “buy” rating and set a $91.00 price target on shares of Marvell Technology in a report on Monday, October 14th. Stifel Nicolaus reissued a “buy” rating and set a $95.00 target price (up from $90.00) on shares of Marvell Technology in a report on Friday, August 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. Bank of America lifted their price target on shares of Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Benchmark increased their price objective on Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $91.62.
Check Out Our Latest Report on MRVL
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.
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