Insider Selling: Marvell Technology, Inc. (NASDAQ:MRVL) EVP Sells 6,000 Shares of Stock

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the sale, the executive vice president now directly owns 93,931 shares in the company, valued at approximately $11,685,016.40. This represents a 6.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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 transaction of $735,000.00.
• On Friday, November 15th, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00.

Marvell Technology Stock Down 1.6 %

MRVL stock opened at $124.02 on Friday. The firm has a 50 day moving average of $110.11 and a 200 day moving average of $86.36. The stock has a market capitalization of $107.31 billion, a PE ratio of -72.95, a price-to-earnings-growth ratio of 4.12 and a beta of 1.41. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48.

Marvell Technology Announces Dividend

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

Institutional Trading of Marvell Technology

Institutional investors have recently bought and sold shares of the stock. ORG Partners LLC boosted 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. Kieckhefer Group LLC acquired a new stake in Marvell Technology in the 4th quarter worth approximately $33,000. Financial Life Planners acquired a new stake in Marvell Technology in the 4th quarter worth approximately $33,000. True Wealth Design LLC boosted its stake in Marvell Technology by 1,481.8% in the 3rd 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. Finally, Quarry LP acquired a new stake in Marvell Technology during the 2nd quarter valued at approximately $32,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MRVL has been the topic of several recent analyst reports. KeyCorp increased their target price on shares of Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday. Morgan Stanley raised their price target on shares of Marvell Technology from $102.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Stifel Nicolaus raised their price target on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. UBS Group raised their price target on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Needham & Company LLC raised their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $125.38.

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.