Marvell Technology, Inc. (NASDAQ:MRVL) EVP Mark Casper Sells 3,000 Shares

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) EVP Mark Casper sold 3,000 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $72.35, for a total value of $217,050.00. Following the sale, the executive vice president owned 17,163 shares in the company, valued at approximately $1,241,743.05. This represents a 14.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $61.10, for a total value of $38,248.60.
• On Wednesday, April 23rd, Mark Casper sold 12,460 shares of Marvell Technology stock. The stock was sold at an average price of $55.00, for a total value of $685,300.00.

Marvell Technology Stock Up 1.6%

MRVL traded up $1.17 on Wednesday, hitting $73.16. The company had a trading volume of 7,023,263 shares, compared to its average volume of 15,892,610. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94. Marvell Technology, Inc. has a 52-week low of $47.09 and a 52-week high of $127.48. The stock has a fifty day simple moving average of $69.41 and a 200-day simple moving average of $78.31. The firm has a market capitalization of $63.19 billion, a P/E ratio of -128.41, a P/E/G ratio of 0.79 and a beta of 1.81.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, beating 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 business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the firm earned $0.24 earnings per share. The business's revenue for the quarter was up 63.3% on a year-over-year basis. As a group, equities analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The firm 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 dividend yield of 0.33%. The ex-dividend date of this dividend is Friday, July 11th. Marvell Technology's dividend payout ratio is -42.11%.

Institutional Investors Weigh In On Marvell Technology

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in Marvell Technology during the 4th quarter valued at about $1,138,354,000. GQG Partners LLC bought a new position in shares of Marvell Technology during the fourth quarter valued at approximately $802,410,000. Nuveen Asset Management LLC boosted its stake in shares of Marvell Technology by 232.2% during the fourth quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company's stock valued at $1,033,859,000 after purchasing an additional 6,543,132 shares in the last quarter. Nuveen LLC bought a new position in shares of Marvell Technology during the first quarter valued at approximately $399,587,000. Finally, Goldman Sachs Group Inc. lifted its position 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 valued at $1,272,117,000 after acquiring an additional 5,050,159 shares during the last quarter. Institutional investors own 83.51% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on MRVL. TD Cowen increased their target price on Marvell Technology from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Evercore ISI decreased their price target on shares of Marvell Technology from $135.00 to $133.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. Raymond James Financial reaffirmed an "outperform" rating and issued a $90.00 price target (down previously from $110.00) on shares of Marvell Technology in a report on Friday, May 30th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $124.00 price target on shares of Marvell Technology in a report on Wednesday, June 18th. Finally, B. Riley reaffirmed a "buy" rating and issued a $115.00 price target (up previously from $110.00) on shares of Marvell Technology in a report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Marvell Technology presently has a consensus rating of "Moderate Buy" and an average 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.