Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans Sells 6,000 Shares

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the sale, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at $11,912,390. This represents a 5.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Chris Koopmans also recently made the following trade(s):

• On Friday, November 15th, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00.
• 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 Price Performance

Shares of NASDAQ MRVL traded down $12.53 during midday trading on Tuesday, hitting $112.25. The stock had a trading volume of 32,129,573 shares, compared to its average volume of 12,578,731. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $126.15. The company has a market capitalization of $97.13 billion, a PE ratio of -66.03, a P/E/G ratio of 3.72 and a beta of 1.46. The stock has a 50 day simple moving average of $91.00 and a 200-day simple moving average of $77.15.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of recent analyst reports. Oppenheimer boosted their target price on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Bank of America lifted their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Loop Capital raised their target price on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Needham & Company LLC lifted their price target on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group raised their price objective on Marvell Technology from $87.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.04.

Institutional Investors Weigh In On Marvell Technology

Hedge funds have recently modified their holdings of the business. Oddo BHF Asset Management Sas purchased a new position in Marvell Technology in the 3rd quarter worth approximately $10,944,000. Beaird Harris Wealth Management LLC boosted its stake in Marvell Technology by 2,313.8% during the third quarter. Beaird Harris Wealth Management LLC now owns 700 shares of the semiconductor company’s stock worth $50,000 after buying an additional 671 shares during the last quarter. Peapack Gladstone Financial Corp grew its holdings in shares of Marvell Technology by 27.3% in the third quarter. Peapack Gladstone Financial Corp now owns 23,312 shares of the semiconductor company’s stock valued at $1,681,000 after purchasing an additional 5,005 shares during the period. Synovus Financial Corp increased its position in Marvell Technology by 60.5% during the third quarter. Synovus Financial Corp now owns 6,489 shares of the semiconductor company’s stock worth $468,000 after purchasing an additional 2,445 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Marvell Technology during the 3rd quarter worth approximately $3,432,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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.