Insider Selling: Marvell Technology, Inc. (NASDAQ:MRVL) Insider Sells $3,750,000.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL) insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $75.00, for a total value of $3,750,000.00. Following the sale, the insider now owns 838,571 shares in the company, valued at approximately $62,892,825. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $72.18 on Friday. The firm has a market cap of $62.48 billion, a price-to-earnings ratio of -63.88, a PEG ratio of 3.55 and a beta of 1.47. Marvell Technology, Inc. has a 52-week low of $46.07 and a 52-week high of $85.76. The company has a quick ratio of 1.24, a current ratio of 1.80 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $71.48 and its 200 day moving average is $69.20.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. The business’s revenue was down 12.2% compared to the same quarter last year. During the same period last year, the business posted $0.17 EPS. On average, sell-side analysts anticipate that Marvell Technology, Inc. will post 0.75 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend is Friday, July 12th. Marvell Technology’s dividend payout ratio is currently -21.24%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MRVL. Morgan Stanley raised their target price on shares of Marvell Technology from $71.00 to $77.00 and gave the stock an “equal weight” rating in a report on Friday, May 31st. Citigroup restated a “buy” rating and set a $91.00 target price on shares of Marvell Technology in a research report on Wednesday, March 27th. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a report on Friday, May 31st. Stifel Nicolaus boosted their price objective on Marvell Technology from $86.00 to $90.00 and gave the company a “buy” rating in a report on Friday, May 31st. Finally, Jefferies Financial Group started coverage on Marvell Technology in a research note on Monday, May 13th. They issued a “buy” rating and a $85.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.24.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. SJS Investment Consulting Inc. boosted its stake in Marvell Technology by 56.8% in the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 155 shares in the last quarter. Bruce G. Allen Investments LLC boosted its position in shares of Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 141 shares in the last quarter. Oliver Lagore Vanvalin Investment Group grew its stake in Marvell Technology by 46.2% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock worth $31,000 after buying an additional 165 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in Marvell Technology during the 1st quarter valued at about $31,000. Finally, Raleigh Capital Management Inc. raised its stake in Marvell Technology by 532.3% in the third quarter. Raleigh Capital Management Inc. now owns 626 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 527 shares during the last quarter. Hedge funds and other institutional investors 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.