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 shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the transaction, the executive vice president now owns 103,244 shares of the company’s stock, valued at $9,203,170.16. The trade was a 5.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 Trading Up 0.6 %

Shares of MRVL opened at $89.86 on Thursday. Marvell Technology, Inc. has a 12-month low of $50.35 and a 12-month high of $95.09. The firm has a market capitalization 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 firm has a 50-day moving average price of $79.94 and a 200 day moving average price of $73.22. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly 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 business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 EPS. Sell-side analysts forecast that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.62%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. M&T Bank Corp lifted its holdings in shares of Marvell Technology by 0.5% in the 3rd quarter. M&T Bank Corp now owns 87,005 shares of the semiconductor company’s stock worth $6,275,000 after acquiring an additional 448 shares during the last quarter. TCW Group Inc. grew its stake in shares of Marvell Technology by 21.4% in the third quarter. TCW Group Inc. now owns 303,966 shares of the semiconductor company’s stock valued at $21,922,000 after buying an additional 53,641 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Marvell Technology by 5.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 25,970 shares of the semiconductor company’s stock valued at $1,873,000 after buying an additional 1,378 shares during the period. Toronto Dominion Bank lifted its stake in Marvell Technology by 32.9% during the 3rd quarter. Toronto Dominion Bank now owns 124,866 shares of the semiconductor company’s stock worth $9,005,000 after acquiring an additional 30,893 shares in the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in Marvell Technology by 110.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 11,228 shares of the semiconductor company’s stock valued at $810,000 after acquiring an additional 5,898 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MRVL. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. TD Cowen raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, September 16th. Barclays raised their target price on Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Loop Capital began coverage on Marvell Technology in a report on Monday, November 11th. They issued a “hold” rating and a $95.00 price target for the company. Finally, Bank of America raised their price objective on Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus 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.