Insider Selling: Marvell Technology, Inc. (NASDAQ:MRVL) EVP Sells $534,840.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value 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 approximately $9,203,170.16. This represents a 5.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 value of $484,620.00.

Marvell Technology Stock Up 0.6 %

Marvell Technology stock opened at $89.86 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The firm has a market cap of $79.63 billion, a P/E ratio of -80.95, a P/E/G ratio of 3.82 and a beta of 1.44. The business has a fifty day moving average of $79.94 and a two-hundred day moving average of $73.22. Marvell Technology, Inc. has a twelve month low of $50.35 and a twelve month high of $95.09.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the business posted $0.18 EPS. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. On average, analysts forecast 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 paid a dividend of $0.06 per share. The ex-dividend date was Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.62%.

Institutional Investors Weigh In On Marvell Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. True Wealth Design LLC increased its position in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Marvell Technology in the 2nd quarter valued at approximately $32,000. Quarry LP purchased a new stake in Marvell Technology during the 2nd quarter worth approximately $32,000. Whittier Trust Co. grew its holdings in shares of Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 210 shares during the last quarter. Finally, Goodman Advisory Group LLC acquired a new position in shares of Marvell Technology in the third quarter valued at about $37,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on MRVL shares. Evercore ISI increased their price target on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Needham & Company LLC restated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Stifel Nicolaus reiterated a “buy” rating and issued a $95.00 price target (up from $90.00) on shares of Marvell Technology in a report on Friday, August 30th. Loop Capital began coverage on Marvell Technology in a report on Monday, November 11th. They set a “hold” rating and a $95.00 price objective for the company. Finally, Morgan Stanley increased their target price on Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $91.77.

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.