Mark Casper Sells 3,000 Shares of Marvell Technology, Inc. (NASDAQ:MRVL) 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 value of $217,050.00. Following the transaction, the executive vice president owned 17,163 shares of the company's stock, valued at approximately $1,241,743.05. This trade represents a 14.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Monday, May 19th, Mark Casper sold 626 shares of Marvell Technology stock. The stock was 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 value of $685,300.00.

Marvell Technology Trading Down 2.1%

MRVL stock traded down $1.59 during trading on Monday, hitting $73.06. The company had a trading volume of 15,480,869 shares, compared to its average volume of 15,921,052. The stock has a market cap of $63.11 billion, a PE ratio of -128.18, a PEG ratio of 0.81 and a beta of 1.81. The business has a 50-day moving average of $69.11 and a 200-day moving average of $78.67. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48.

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

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Friday, July 11th. Marvell Technology's payout ratio is -42.11%.

Institutional Trading of Marvell Technology

A number of institutional investors and hedge funds have recently modified their holdings of MRVL. Vanguard Group Inc. increased its position in shares of Marvell Technology by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 63,770,122 shares of the semiconductor company's stock valued at $3,926,326,000 after purchasing an additional 1,212,338 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Marvell Technology by 32.3% during the first quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock worth $1,272,117,000 after buying an additional 5,050,159 shares during the last quarter. Brown Advisory Inc. raised its position in Marvell Technology by 2.2% in the first quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company's stock worth $1,188,333,000 after acquiring an additional 423,892 shares during the period. Invesco Ltd. boosted its stake in Marvell Technology by 30.1% in the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock valued at $1,784,649,000 after acquiring an additional 3,737,705 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Marvell Technology by 6.9% in the fourth quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company's stock valued at $1,462,274,000 after acquiring an additional 857,087 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MRVL shares. Benchmark restated a "buy" rating and set a $95.00 target price on shares of Marvell Technology in a research note on Wednesday, June 18th. KeyCorp reduced their price target on Marvell Technology from $115.00 to $90.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Susquehanna decreased their price objective on Marvell Technology from $110.00 to $90.00 and set a "positive" rating on the stock in a report on Tuesday, May 27th. TD Cowen lifted their target price on Marvell Technology from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Finally, Redburn Atlantic assumed coverage on shares of Marvell Technology in a research note on Wednesday, May 28th. They issued a "neutral" rating and a $67.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.47.

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.

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