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 the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 97,244 shares in the company, valued at $11,912,390. The trade was a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through 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 stock was sold at an average price of $80.77, for a total value of $484,620.00.

Marvell Technology Trading Up 3.6 %

MRVL stock opened at $109.11 on Friday. The business has a fifty day moving average price of $93.17 and a 200 day moving average price of $77.87. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. The stock has a market capitalization of $94.41 billion, a price-to-earnings ratio of -64.18, a P/E/G ratio of 3.72 and a beta of 1.46.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. Marvell Technology’s dividend payout ratio is -14.12%.

Analysts Set New Price Targets

MRVL has been the topic of a number of research analyst reports. Barclays raised their target price on Marvell Technology from $85.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Monday, December 2nd. TD Cowen boosted their target price on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Cantor Fitzgerald upped their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, B. Riley raised their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $119.04.

Institutional Investors Weigh In On Marvell Technology

A number of hedge funds have recently added to or reduced their stakes in MRVL. Hennion & Walsh Asset Management Inc. grew its stake in shares of Marvell Technology by 41.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,561 shares of the semiconductor company’s stock valued at $808,000 after purchasing an additional 3,410 shares during the last quarter. Dakota Wealth Management boosted its position in Marvell Technology by 1.9% in the 2nd quarter. Dakota Wealth Management now owns 12,303 shares of the semiconductor company’s stock valued at $860,000 after buying an additional 229 shares during the last quarter. Onyx Bridge Wealth Group LLC increased its stake in shares of Marvell Technology by 8.5% in the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 4,392 shares of the semiconductor company’s stock valued at $307,000 after buying an additional 344 shares during the period. Fifth Third Bancorp raised its position in shares of Marvell Technology by 8.3% during the second quarter. Fifth Third Bancorp now owns 619,191 shares of the semiconductor company’s stock worth $43,281,000 after acquiring an additional 47,279 shares during the last quarter. Finally, Atria Wealth Solutions Inc. lifted its stake in shares of Marvell Technology by 11.8% during the second quarter. Atria Wealth Solutions Inc. now owns 43,734 shares of the semiconductor company’s stock valued at $3,057,000 after acquiring an additional 4,604 shares during the period. Institutional investors own 83.51% of the company’s stock.

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