Willem A. Meintjes Sells 1,500 Shares of Marvell Technology, Inc. (NASDAQ:MRVL) Stock

Marvell Technology, Inc. (NASDAQ:MRVL) CFO Willem A. Meintjes sold 1,500 shares of the firm’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 sale, the chief financial officer now directly owns 110,253 shares in the company, valued at $8,875,366.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Marvell Technology Trading Down 2.2 %

Shares of MRVL stock opened at $79.91 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The firm has a market capitalization of $69.17 billion, a PE ratio of -70.72, a P/E/G ratio of 3.17 and a beta of 1.45. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76. The business’s fifty day moving average price is $71.23 and its 200 day moving average price is $70.12.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. Marvell Technology’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.18 earnings per share. As a group, sell-side analysts forecast that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.30%. The ex-dividend date is Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is -21.24%.

Wall Street Analyst Weigh In

MRVL has been the topic of several research analyst reports. The Goldman Sachs Group raised their target price on Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. Evercore ISI lifted their price target on Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. StockNews.com lowered Marvell Technology from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Bank of America lifted their price target on Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $91.62.

Institutional Trading of Marvell Technology

Several large investors have recently bought and sold shares of the company. Tlwm boosted its stake in shares of Marvell Technology by 1.6% during 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 last quarter. Bruce G. Allen Investments LLC boosted its stake in shares of Marvell Technology by 56.4% during the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 141 shares during the last quarter. Parisi Gray Wealth Management boosted its stake in shares of Marvell Technology by 4.2% during the third quarter. Parisi Gray Wealth Management now owns 4,161 shares of the semiconductor company’s stock valued at $300,000 after acquiring an additional 166 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in shares of Marvell Technology by 0.4% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock valued at $3,143,000 after acquiring an additional 168 shares during the last quarter. Finally, Pathway Financial Advisers LLC boosted its stake in shares of Marvell Technology by 1.2% during the second quarter. Pathway Financial Advisers LLC now owns 14,601 shares of the semiconductor company’s stock valued at $1,019,000 after acquiring an additional 169 shares during the last quarter. Institutional investors and hedge funds 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.