Chris Koopmans Sells 5,000 Shares of Marvell Technology, Inc. (NASDAQ:MRVL) Stock

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans sold 5,000 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $73.42, for a total value of $367,100.00. Following the completion of the sale, the executive vice president now owns 115,318 shares of the company’s stock, valued at approximately $8,466,647.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, May 15th, Chris Koopmans sold 5,000 shares of Marvell Technology stock. The shares were sold at an average price of $68.57, for a total value of $342,850.00.
• On Monday, April 15th, Chris Koopmans sold 5,000 shares of Marvell Technology stock. The stock was sold at an average price of $71.25, for a total transaction of $356,250.00.

Marvell Technology Stock Performance

MRVL traded up $1.21 during trading on Tuesday, reaching $73.03. 6,246,458 shares of the company’s stock were exchanged, compared to its average volume of 13,052,376. The company’s fifty day moving average price is $69.90 and its 200-day moving average price is $67.39. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 1.24. Marvell Technology, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $85.76.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. The business’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share. On average, research analysts forecast that Marvell Technology, Inc. will post 0.75 earnings per share for the current year.

Marvell Technology declared that its Board of Directors has authorized a share repurchase program on Thursday, March 7th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 4.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MRVL shares. UBS Group upped their price target on shares of Marvell Technology from $70.00 to $83.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Rosenblatt Securities reissued a “buy” rating and set a $100.00 target price on shares of Marvell Technology in a research report on Monday, March 4th. StockNews.com downgraded shares of Marvell Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Stifel Nicolaus increased their target price on shares of Marvell Technology from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, Jefferies Financial Group assumed coverage on shares of Marvell Technology in a research report on Monday, May 13th. They set a “buy” rating and a $85.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $85.00.

Hedge Funds Weigh In On Marvell Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in MRVL. Vanguard Group Inc. lifted its position in Marvell Technology by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 72,810,448 shares of the semiconductor company’s stock valued at $5,160,805,000 after acquiring an additional 468,086 shares in the last quarter. Capital Research Global Investors lifted its position in Marvell Technology by 0.5% in the 4th quarter. Capital Research Global Investors now owns 35,791,266 shares of the semiconductor company’s stock valued at $2,158,601,000 after acquiring an additional 185,479 shares in the last quarter. Matrix Capital Management Company LP lifted its position in Marvell Technology by 14.3% in the 4th quarter. Matrix Capital Management Company LP now owns 15,055,500 shares of the semiconductor company’s stock valued at $907,997,000 after acquiring an additional 1,888,676 shares in the last quarter. Brown Advisory Inc. lifted its position in Marvell Technology by 25.9% in the 4th quarter. Brown Advisory Inc. now owns 14,764,957 shares of the semiconductor company’s stock valued at $890,475,000 after acquiring an additional 3,036,495 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in Marvell Technology by 13.4% in the 1st quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock valued at $955,400,000 after acquiring an additional 1,591,874 shares in the last quarter. 83.51% of the stock is owned by 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.