Insider Selling: Marvell Technology, Inc. (NASDAQ:MRVL) EVP Sells $161,875.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $64.75, for a total value of $161,875.00. Following the transaction, the executive vice president now directly owns 21,266 shares in the company, valued at approximately $1,376,973.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Marvell Technology Trading Up 1.6 %

Marvell Technology stock opened at $64.85 on Thursday. The stock has a market cap of $56.16 billion, a PE ratio of -59.77, a P/E/G ratio of 4.60 and a beta of 1.50. The stock has a 50-day moving average price of $69.88 and a 200 day moving average price of $62.46. Marvell Technology, Inc. has a 52 week low of $36.90 and a 52 week high of $85.76. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.27.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the company earned $0.34 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. Equities research analysts predict that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

Marvell Technology announced that its Board of Directors has initiated a share repurchase program on Thursday, March 7th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 4.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend is Thursday, April 11th. Marvell Technology’s payout ratio is -22.22%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Citigroup reaffirmed a “buy” rating and set a $91.00 price objective on shares of Marvell Technology in a report on Wednesday, March 27th. Evercore ISI assumed coverage on Marvell Technology in a report on Tuesday, April 16th. They set an “outperform” rating and a $88.00 price objective on the stock. B. Riley reaffirmed a “buy” rating and set a $95.00 price objective (up previously from $85.00) on shares of Marvell Technology in a report on Monday, March 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Marvell Technology in a report on Friday, April 12th. Finally, Barclays upped their price objective on Marvell Technology from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Two analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average price target of $81.13.

Institutional Trading of Marvell Technology

A number of hedge funds have recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC boosted its stake in 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 buying an additional 141 shares during the last quarter. SJS Investment Consulting Inc. lifted its stake in shares of Marvell Technology by 56.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 155 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Marvell Technology by 23.4% in the 4th quarter. Blue Trust Inc. now owns 817 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 155 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Marvell Technology by 34.7% in the 4th quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 161 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. lifted its stake in shares of Marvell Technology by 0.5% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 30,764 shares of the semiconductor company’s stock valued at $1,855,000 after purchasing an additional 162 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

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.