Marvell Technology, Inc. (NASDAQ:MRVL) Director Sells $309,300.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL) Director Michael G. Strachan sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $61.86, for a total transaction of $309,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of MRVL stock opened at $63.25 on Friday. The company has a market capitalization of $52.09 billion, a PE ratio of -131.77, a price-to-earnings-growth ratio of 3.23 and a beta of 1.07. The firm has a fifty day simple moving average of $59.90 and a 200-day simple moving average of $52.57. The company has a current ratio of 1.50, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. Marvell Technology, Inc. has a twelve month low of $35.30 and a twelve month high of $64.07.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Wednesday, August 25th. The semiconductor company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.03. Marvell Technology had a negative net margin of 10.74% and a positive return on equity of 6.40%. During the same quarter in the prior year, the business posted $0.21 EPS. Equities research analysts predict that Marvell Technology, Inc. will post 0.92 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BDO Wealth Advisors LLC boosted its stake in Marvell Technology by 13.5% during the 2nd quarter. BDO Wealth Advisors LLC now owns 1,400 shares of the semiconductor company’s stock valued at $82,000 after acquiring an additional 167 shares during the last quarter. Mid Atlantic Financial Management Inc. ADV boosted its stake in Marvell Technology by 2.3% during the 2nd quarter. Mid Atlantic Financial Management Inc. ADV now owns 7,780 shares of the semiconductor company’s stock valued at $454,000 after acquiring an additional 178 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in Marvell Technology by 1.3% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 13,534 shares of the semiconductor company’s stock valued at $789,000 after acquiring an additional 178 shares during the last quarter. Well Done LLC boosted its stake in Marvell Technology by 4.5% during the 2nd quarter. Well Done LLC now owns 4,505 shares of the semiconductor company’s stock valued at $263,000 after acquiring an additional 192 shares during the last quarter. Finally, Western Wealth Management LLC boosted its stake in Marvell Technology by 1.7% during the 2nd quarter. Western Wealth Management LLC now owns 11,416 shares of the semiconductor company’s stock valued at $665,000 after acquiring an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 84.98% of the company’s stock.

Several equities analysts recently commented on the stock. Barclays upped their price target on shares of Marvell Technology from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, August 27th. Needham & Company LLC upped their price target on shares of Marvell Technology from $67.50 to $69.00 and gave the stock a “buy” rating in a research report on Friday, August 27th. William Blair reaffirmed an “outperform” rating on shares of Marvell Technology in a research report on Tuesday, June 8th. BMO Capital Markets upped their price target on shares of Marvell Technology from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, August 23rd. Finally, JPMorgan Chase & Co. started coverage on shares of Marvell Technology in a research report on Tuesday, June 8th. They set an “overweight” rating for the company. Five investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $67.38.

Marvell Technology Company Profile

Marvell Technology, Inc engages in the provision of data infrastructure semiconductor solutions. It offers compute, networking, storage and custom related solutions. The company was founded in 1995 and is headquartered in Wilmington, DE.

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