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

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the sale, the executive vice president now directly owns 103,244 shares in the company, valued at $9,203,170.16. This trade represents a 5.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, October 21st, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The stock was sold at an average price of $80.77, for a total value of $484,620.00.

Marvell Technology Stock Performance

Marvell Technology stock traded up $0.88 during mid-day trading on Monday, hitting $88.71. 7,073,230 shares of the company’s stock traded hands, compared to its average volume of 12,116,812. Marvell Technology, Inc. has a one year low of $50.35 and a one year high of $95.09. The company has a market cap of $78.61 billion, a PE ratio of -79.92, a price-to-earnings-growth ratio of 3.82 and a beta of 1.44. The firm has a 50 day moving average price of $79.28 and a 200 day moving average price of $72.96. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the business posted $0.18 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, equities analysts forecast that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were issued a $0.06 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. Marvell Technology’s dividend payout ratio (DPR) is -21.62%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Evercore ISI lifted their price objective on Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 target price (up previously from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Barclays lifted their price target on Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Piper Sandler restated an “overweight” rating and set a $100.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Finally, Citigroup reiterated a “buy” rating and issued a $91.00 target price on shares of Marvell Technology in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus target price of $91.77.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Orion Portfolio Solutions LLC raised its holdings in shares of Marvell Technology by 47.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock worth $2,282,000 after purchasing an additional 10,306 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Marvell Technology in the 1st quarter valued at $394,000. Covestor Ltd increased its stake in Marvell Technology by 231.1% in the 1st quarter. Covestor Ltd now owns 1,311 shares of the semiconductor company’s stock worth $93,000 after purchasing an additional 915 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Marvell Technology by 22.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 26,743 shares of the semiconductor company’s stock worth $1,896,000 after buying an additional 4,882 shares during the period. Finally, UniSuper Management Pty Ltd boosted its holdings in shares of Marvell Technology by 93.7% in the first quarter. UniSuper Management Pty Ltd now owns 12,200 shares of the semiconductor company’s stock worth $865,000 after buying an additional 5,900 shares during the period. 83.51% of the stock is 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.