Marvell Technology, Inc. (NASDAQ:MRVL) EVP Sells $746,400.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the transaction, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at $11,685,016.40. This represents a 6.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, December 16th, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The shares were sold at an average price of $122.50, for a total value of $735,000.00.
• On Friday, November 15th, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The stock was sold at an average price of $89.14, for a total value of $534,840.00.

Marvell Technology Stock Up 0.7 %

Shares of NASDAQ:MRVL opened at $126.06 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The business has a 50 day simple moving average of $108.68 and a two-hundred day simple moving average of $85.65. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The firm has a market capitalization of $109.08 billion, a PE ratio of -74.15, a price-to-earnings-growth ratio of 4.07 and a beta of 1.41.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.19%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Analyst Ratings Changes

MRVL has been the subject of several recent analyst reports. Evercore ISI upped their price target on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. UBS Group raised their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Barclays boosted their price target on shares of Marvell Technology from $115.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. The Goldman Sachs Group raised their price objective on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, Bank of America increased their price target on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $125.38.

Institutional Trading of Marvell Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. ORG Partners LLC grew its holdings in shares of Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares during the last quarter. Kieckhefer Group LLC purchased a new stake in Marvell Technology in the 4th quarter valued at about $33,000. True Wealth Design LLC grew its stake in Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares in the last quarter. Quarry LP purchased a new position in shares of Marvell Technology during the second quarter worth approximately $32,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Marvell Technology during the second quarter valued at approximately $32,000. 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.