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.
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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