Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $65.10, for a total transaction of $390,600.00. Following the completion of the transaction, the chief operating officer now owns 92,065 shares of the company's stock, valued at $5,993,431.50. This represents a 6.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Chris Koopmans also recently made the following trade(s):
- On Monday, March 17th, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The shares were sold at an average price of $68.83, for a total transaction of $412,980.00.
- On Tuesday, February 18th, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00.
Marvell Technology Stock Performance
Shares of NASDAQ MRVL traded down $0.70 during midday trading on Thursday, reaching $65.20. 9,947,544 shares of the company were exchanged, compared to its average volume of 14,008,192. The stock has a market cap of $56.32 billion, a P/E ratio of -38.35, a PEG ratio of 1.61 and a beta of 1.83. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48. The stock has a fifty day simple moving average of $60.44 and a 200 day simple moving average of $88.95. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.
Marvell Technology Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.37%. Marvell Technology's dividend payout ratio (DPR) is currently -23.53%.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of MRVL. Norges Bank acquired a new stake in shares of Marvell Technology in the 4th quarter worth $1,138,354,000. GQG Partners LLC acquired a new position in shares of Marvell Technology during the fourth quarter worth about $802,410,000. Nuveen Asset Management LLC raised its holdings in 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 worth $1,033,859,000 after purchasing an additional 6,543,132 shares in the last quarter. Nuveen LLC purchased a new position in Marvell Technology during the first quarter worth about $399,587,000. Finally, Goldman Sachs Group Inc. lifted its position in Marvell Technology by 32.3% in 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 purchasing an additional 5,050,159 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently commented on the company. Citigroup dropped their target price on Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, April 11th. KeyCorp lowered their price objective on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. Stifel Nicolaus cut their target price on Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Melius Research upgraded Marvell Technology to a "strong-buy" rating in a research note on Monday, January 27th. Finally, Needham & Company LLC lowered their price target on Marvell Technology from $120.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology presently has an average rating of "Moderate Buy" and an average target price of $111.27.
Check Out Our Latest Research Report on MRVL
Marvell Technology Company Profile
(
Get Free Report)
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.
Further Reading
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