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 dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the sale, the executive vice president now owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

Shares of NASDAQ MRVL opened at $88.71 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The stock has a 50 day moving average price of $79.28 and a 200 day moving average price of $72.96. The stock has a market capitalization 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. Marvell Technology, Inc. has a 52 week low of $50.35 and a 52 week high of $95.09.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS. Analysts predict that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal 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 given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.62%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MRVL. Citizens Financial Group Inc. RI grew its holdings in Marvell Technology by 1.5% during the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after purchasing an additional 116 shares during the period. Crumly & Associates Inc. raised its stake in Marvell Technology by 1.5% in the third quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock valued at $593,000 after buying an additional 121 shares during the period. United Capital Management of KS Inc. lifted its position in shares of Marvell Technology by 0.4% in the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after buying an additional 131 shares during the last quarter. Tlwm boosted its stake in shares of Marvell Technology by 1.6% during the 2nd quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after acquiring an additional 136 shares during the period. Finally, Integrated Wealth Concepts LLC increased its holdings in shares of Marvell Technology by 1.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock worth $716,000 after acquiring an additional 139 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MRVL has been the topic of several recent analyst reports. Piper Sandler reissued an “overweight” rating and set a $100.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Roth Mkm reiterated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. TD Cowen raised Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Finally, The Goldman Sachs Group boosted their price objective on Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average target price of $91.77.

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.