Marvell Technology, Inc. (NASDAQ:MRVL) COO Sells $638,100.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL) COO Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the sale, the chief operating officer now owns 87,931 shares of the company’s stock, valued at approximately $9,351,461.85. The trade was a 6.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

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

Marvell Technology Stock Down 4.5 %

NASDAQ MRVL opened at $103.85 on Friday. The stock has a fifty day moving average of $113.59 and a 200-day moving average of $92.01. The stock has a market capitalization of $89.86 billion, a P/E ratio of -61.09, a price-to-earnings-growth ratio of 1.64 and a beta of 1.40. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.

Wall Street Analysts Forecast Growth

MRVL has been the subject of a number of research reports. Morgan Stanley reduced their price objective on Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Stifel Nicolaus raised their price objective on Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Oppenheimer raised their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. raised their price objective on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Barclays raised their price objective on Marvell Technology from $115.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and an average target price of $127.60.

Institutional Investors Weigh In On Marvell Technology

Several hedge funds and other institutional investors have recently made changes to their positions in MRVL. True Wealth Design LLC increased its stake in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 326 shares during the period. ORG Partners LLC lifted its holdings in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Marvell Technology during the fourth quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in shares of Marvell Technology in the fourth quarter valued at about $27,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Marvell Technology in the fourth quarter valued at about $33,000. 83.51% of the stock is owned by institutional investors and hedge funds.

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.