Marvell Technology, Inc. (NASDAQ:MRVL) EVP Sells $217,050.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) EVP Mark Casper sold 3,000 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $72.35, for a total transaction of $217,050.00. Following the completion of the transaction, the executive vice president owned 17,163 shares of the company's stock, valued at approximately $1,241,743.05. The trade was a 14.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Mark Casper also recently made the following trade(s):

• On Monday, May 19th, Mark Casper sold 626 shares of Marvell Technology stock. The shares were sold at an average price of $61.10, for a total transaction of $38,248.60.
• On Wednesday, April 23rd, Mark Casper sold 12,460 shares of Marvell Technology stock. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00.

Marvell Technology Stock Performance

Shares of MRVL traded up $0.77 on Thursday, reaching $74.04. The company's stock had a trading volume of 10,600,804 shares, compared to its average volume of 17,588,844. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94. The stock has a market capitalization of $63.96 billion, a P/E ratio of -129.89, a PEG ratio of 0.79 and a beta of 1.81. The stock's 50 day simple moving average is $69.74 and its two-hundred day simple moving average is $77.96. Marvell Technology, Inc. has a 12-month low of $47.08 and a 12-month high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The company had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter last year, the business earned $0.24 EPS. The firm's revenue was up 63.3% compared to the same quarter last year. Research analysts forecast that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Friday, July 11th. Marvell Technology's payout ratio is -42.11%.

Institutional Investors Weigh In On Marvell Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lmcg Investments LLC raised its position in shares of Marvell Technology by 15.7% during the second quarter. Lmcg Investments LLC now owns 158,658 shares of the semiconductor company's stock valued at $12,280,000 after buying an additional 21,548 shares during the last quarter. PDS Planning Inc bought a new stake in shares of Marvell Technology during the second quarter valued at approximately $238,000. Blue Trust Inc. grew its holdings in shares of Marvell Technology by 36.4% in the second quarter. Blue Trust Inc. now owns 6,777 shares of the semiconductor company's stock valued at $525,000 after purchasing an additional 1,810 shares in the last quarter. Thompson Investment Management Inc. grew its holdings in shares of Marvell Technology by 39.6% in the second quarter. Thompson Investment Management Inc. now owns 36,430 shares of the semiconductor company's stock valued at $2,820,000 after purchasing an additional 10,340 shares in the last quarter. Finally, Costello Asset Management INC grew its holdings in shares of Marvell Technology by 31,756.0% in the second quarter. Costello Asset Management INC now owns 63,712 shares of the semiconductor company's stock valued at $4,931,000 after purchasing an additional 63,512 shares in the last quarter. Institutional investors own 83.51% of the company's stock.

Analysts Set New Price Targets

MRVL has been the topic of several recent analyst reports. UBS Group reissued a "buy" rating on shares of Marvell Technology in a research report on Monday, June 2nd. Loop Capital cut their price objective on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Benchmark reissued a "buy" rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Wednesday, June 18th. TD Cowen increased their price objective on shares of Marvell Technology from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Finally, Susquehanna cut their price objective on shares of Marvell Technology from $110.00 to $90.00 and set a "positive" rating on the stock in a research report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $94.47.

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.