Chris Koopmans Sells 2,000 Shares of Marvell Technology, Inc. (NASDAQ:MRVL) Stock

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $55.57, for a total value of $111,140.00. Following the completion of the sale, the executive vice president now owns 134,737 shares of the company’s stock, valued at $7,487,335.09. The sale 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 Tuesday, August 15th, Chris Koopmans sold 2,000 shares of Marvell Technology stock. The stock was sold at an average price of $59.36, for a total transaction of $118,720.00.
• On Monday, July 17th, Chris Koopmans sold 2,000 shares of Marvell Technology stock. The stock was sold at an average price of $63.56, for a total transaction of $127,120.00.

Marvell Technology Trading Up 0.5 %

Shares of NASDAQ:MRVL opened at $54.78 on Tuesday. The stock has a market capitalization of $47.26 billion, a price-to-earnings ratio of -124.50, a PEG ratio of 6.91 and a beta of 1.43. Marvell Technology, Inc. has a 1-year low of $33.75 and a 1-year high of $67.99. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.65 and a current ratio of 1.03. The company has a 50 day moving average price of $60.02 and a 200 day moving average price of $52.12.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, August 24th. The semiconductor company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. Marvell Technology had a negative net margin of 6.74% and a positive return on equity of 6.13%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the firm posted $0.41 earnings per share. The firm’s revenue for the quarter was down 11.6% compared to the same quarter last year. On average, research analysts anticipate that Marvell Technology, Inc. will post 0.88 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Friday, October 6th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.44%. Marvell Technology’s dividend payout ratio (DPR) is -54.55%.

Hedge Funds Weigh In On Marvell Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. West Tower Group LLC acquired a new position in Marvell Technology in the 2nd quarter worth approximately $25,000. SRS Capital Advisors Inc. boosted its stake in Marvell Technology by 216.2% in the 2nd quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 281 shares during the period. Barrett & Company Inc. acquired a new position in Marvell Technology in the 1st quarter worth approximately $26,000. Lindbrook Capital LLC boosted its stake in Marvell Technology by 67.6% in the 2nd quarter. Lindbrook Capital LLC now owns 429 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 173 shares during the period. Finally, Versant Capital Management Inc boosted its position in Marvell Technology by 76.9% during the 2nd quarter. Versant Capital Management Inc now owns 474 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 206 shares during the period. Institutional investors and hedge funds own 83.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Evercore ISI boosted their price objective on shares of Marvell Technology from $60.00 to $70.00 in a research report on Friday, May 26th. Barclays boosted their price objective on shares of Marvell Technology from $55.00 to $75.00 in a research report on Thursday, July 20th. B. Riley boosted their price objective on shares of Marvell Technology from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, August 25th. Susquehanna upped their price objective on Marvell Technology from $60.00 to $70.00 and gave the stock a “positive” rating in a research note on Wednesday, August 23rd. Finally, Raymond James upped their price objective on Marvell Technology from $50.00 to $64.00 in a research note on Friday, May 26th. Two equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.73.

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, scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.