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

Marvell Technology, Inc. (NASDAQ:MRVL) COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $412,980.00. Following the transaction, the chief operating officer now directly owns 81,931 shares of the company’s stock, valued at approximately $5,639,310.73. This represents a 6.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, February 18th, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00.
• On Wednesday, January 22nd, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The stock was sold at an average price of $124.40, for a total value of $746,400.00.

Marvell Technology Trading Down 3.0 %

Shares of Marvell Technology stock opened at $68.28 on Wednesday. The firm’s 50 day simple moving average is $101.86 and its two-hundred day simple moving average is $93.89. The firm has a market capitalization of $59.13 billion, a price-to-earnings ratio of -40.16, a PEG ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Wall Street Analysts Forecast Growth

MRVL has been the topic of several research analyst reports. Roth Capital set a $100.00 price objective on Marvell Technology in a research report on Thursday, March 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $140.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Craig Hallum lifted their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Oppenheimer increased their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $120.44.

Institutional Investors Weigh In On Marvell Technology

Large investors have recently made changes to their positions in the stock. Zweig DiMenna Associates LLC grew its stake in Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after purchasing an additional 12,700 shares during the last quarter. Berbice Capital Management LLC purchased a new stake in Marvell Technology in the fourth quarter valued at approximately $637,000. RFG Advisory LLC boosted its holdings in shares of Marvell Technology by 6.2% in the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after acquiring an additional 2,507 shares during the last quarter. Braun Stacey Associates Inc. acquired a new stake in shares of Marvell Technology in the third quarter worth $16,435,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after purchasing an additional 66,654 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

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.