Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) Executive Vice President Chris Koopmans sold 5,000 shares of the company’s stock on Monday, July 15. The shares were sold at an average price of $73.88, for a total transaction of $369,400.00. Following the completion of the sale, the Executive Vice President now directly owns 110,318 shares of the company’s stock, valued at $8,150,293.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Chris Koopmans also recently made the following trades:
- On Monday, June 17, Chris Koopmans sold 5,000 shares of Marvell Technology. The average price of the share was $73.42, for a total transaction of $367,100.00.
- On Wednesday, May 15, Chris Koopmans sold 5,000 shares of Marvell Technology. The average price of the share was $68.57, for a total transaction of $342,850.00.
Marvell Technology trading up 2.7%
Marvell Technology shares opened at $75.60 on Wednesday. The company’s 50-day moving average is $71.79 and its 200-day moving average is $69.60. The company has a market cap of $65.44 billion, a price-to-earnings ratio of -66.90, a PEG ratio of 3.49 and a beta of 1.47. The company has a current ratio of 1.80, a quick ratio of 1.24 and a debt-to-equity ratio of 0.28. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76.
Marvell Technology (NASDAQ:MRVL – Free Report) last announced its quarterly results on Thursday, May 30. The semiconductor company reported earnings per share (EPS) of $0.24 for the quarter, meeting the consensus estimate of $0.24. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. Marvell Technology’s quarterly revenue declined 12.2% year-over-year. In the same quarter last year, the company reported earnings per share of $0.17. As a group, sell-side analysts expect Marvell Technology, Inc. to report earnings per share of $0.75 for the current year.
Marvell Technology announces dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th will be paid a dividend of $0.06. The ex-dividend date of this dividend is Friday, July 12th. This represents an annualized dividend of $0.24 and a dividend yield of 0.32%. Marvell Technology’s payout ratio is -21.24%.
Institutional investors comment on Marvell Technology
Hedge funds and other institutional investors have recently made changes to their holdings of the stocks. Bruce G. Allen Investments LLC increased its stake in shares of Marvell Technology by 56.4% in the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 141 shares in the last quarter. SJS Investment Consulting Inc. increased its stake in shares of Marvell Technology by 56.8% in the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 155 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in Marvell Technology in the first quarter valued at $31,000. Optimum Investment Advisors acquired a new stake in Marvell Technology in the first quarter valued at $35,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in Marvell Technology during the first quarter valued at $35,000. Institutional investors and hedge funds own 83.51% of the company’s shares.
Wall Street analysts predict growth
Several analysts have recently issued reports on the stock. Evercore ISI raised their price target on shares of Marvell Technology from $88.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, May 31. Jefferies Financial Group began coverage on shares of Marvell Technology in a research report on Monday, May 13. They gave the stock a “buy” rating and a $85.00 price target. Citigroup reiterated a “buy” rating and gave a $91.00 price target on shares of Marvell Technology in a research report on Wednesday, March 27. KeyCorp raised their price target on shares of Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a price target of $85.00 on shares of Marvell Technology in a research report on Friday, May 31. One analyst has rated the stock with a “sell”, one has given a “hold” rating and twenty-one have given the company a “buy” rating. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $85.24.
Check out our latest research report on MRVL
About Marvell Technology
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Marvell Technology, Inc., together with its subsidiaries, provides semiconductor solutions for data infrastructure, from the data center core to the network edge. The company designs and scales complex system-on-a-chip architectures and integrates analog, mixed-signal and digital signal processing functions.
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