Marvell Technology, Inc. (NASDAQ:MRVL) CEO Matthew J. Murphy Sells 6,000 Shares of Stock

Marvell Technology, Inc. (NASDAQ:MRVL) CEO Matthew J. Murphy sold 6,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $73.29, for a total transaction of $439,740.00. Following the completion of the sale, the chief executive officer now owns 208,915 shares in the company, valued at $15,311,380.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Marvell Technology Stock Performance

Marvell Technology stock opened at $72.77 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. Marvell Technology, Inc. has a 12 month low of $46.07 and a 12 month high of $85.76. The company has a market cap of $62.99 billion, a price-to-earnings ratio of -64.40, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46. The stock’s 50-day moving average is $68.23 and its 200-day moving average is $69.80.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm posted $0.18 earnings per share. Marvell Technology’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities analysts anticipate that Marvell Technology, Inc. will post 0.77 earnings per share for the current year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. Marvell Technology’s dividend payout ratio (DPR) is -21.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MRVL shares. Bank of America increased their target price on Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a report on Friday, August 30th. Evercore ISI increased their price objective on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Oppenheimer reissued an “outperform” rating and issued a $90.00 target price (up previously from $80.00) on shares of Marvell Technology in a research note on Friday, May 31st. TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Monday. Finally, Roth Mkm reiterated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.62.

Institutional Trading of Marvell Technology

Large investors have recently added to or reduced their stakes in the stock. Tlwm boosted its position in shares of Marvell Technology by 1.6% in the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after buying an additional 136 shares during the period. Bruce G. Allen Investments LLC lifted its position in Marvell Technology by 56.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 141 shares in the last quarter. Trueblood Wealth Management LLC lifted its position in Marvell Technology by 3.2% during the 1st quarter. Trueblood Wealth Management LLC now owns 4,944 shares of the semiconductor company’s stock worth $350,000 after acquiring an additional 152 shares in the last quarter. Edmond DE Rothschild Holding S.A. boosted its holdings in Marvell Technology by 0.5% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 30,764 shares of the semiconductor company’s stock worth $1,855,000 after acquiring an additional 162 shares during the period. Finally, Sheaff Brock Investment Advisors LLC grew its position in Marvell Technology by 0.4% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock valued at $3,143,000 after acquiring an additional 168 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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.