Marvell Technology (NASDAQ:MRVL) CFO Sells $700,960.00 in Stock

Key Points

• Marvell Technology CFO Willem Meintjes sold 4,000 shares on May 15 at an average price of $175.24, for proceeds of $700,960. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• After the transaction, Meintjes still directly owned 226,675 shares valued at about $39.7 million, and the sale represented a 1.73% reduction in his position.
• Marvell’s stock was trading lower in the session cited at $167.46, while the company recently beat quarterly EPS and revenue estimates and has drawn multiple buy ratings and higher price targets from analysts.

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) CFO Willem Meintjes sold 4,000 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $175.24, for a total transaction of $700,960.00. Following the completion of the transaction, the chief financial officer directly owned 226,675 shares of the company's stock, valued at $39,722,527. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marvell Technology Price Performance

NASDAQ:MRVL traded down $9.43 during mid-day trading on Monday, hitting $167.46. The company's stock had a trading volume of 16,309,500 shares, compared to its average volume of 21,002,080. Marvell Technology, Inc. has a fifty-two week low of $58.61 and a fifty-two week high of $192.15. The company has a current ratio of 2.01, a quick ratio of 1.58 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $150.26 billion, a price-to-earnings ratio of 54.17, a P/E/G ratio of 1.48 and a beta of 2.25. The stock has a fifty day moving average of $125.27 and a 200-day moving average of $98.83.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings results on Thursday, March 5th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.01. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.21 billion. Marvell Technology had a net margin of 32.58% and a return on equity of 14.22%. The company's quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 earnings per share. Marvell Technology has set its Q1 2027 guidance at 0.740-0.840 EPS. As a group, equities analysts forecast that Marvell Technology, Inc. will post 3.04 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Friday, April 10th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Friday, April 10th. Marvell Technology's dividend payout ratio (DPR) is currently 7.79%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Susquehanna reaffirmed a "positive" rating on shares of Marvell Technology in a report on Tuesday, February 24th. UBS Group raised their price target on shares of Marvell Technology from $120.00 to $195.00 and gave the company a "buy" rating in a report on Monday, May 4th. Craig Hallum raised their price target on shares of Marvell Technology from $141.00 to $164.00 and gave the company a "buy" rating in a report on Friday, March 6th. Erste Group Bank initiated coverage on shares of Marvell Technology in a report on Thursday, April 2nd. They issued a "buy" rating for the company. Finally, Barclays raised shares of Marvell Technology from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $105.00 to $150.00 in a report on Thursday, April 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $132.73.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MRVL. Vanguard Group Inc. boosted its position in shares of Marvell Technology by 23.5% in the 3rd quarter. Vanguard Group Inc. now owns 79,610,208 shares of the semiconductor company's stock worth $6,692,830,000 after purchasing an additional 15,166,976 shares during the last quarter. Norges Bank bought a new position in shares of Marvell Technology during the fourth quarter worth $895,455,000. Ameriprise Financial Inc. boosted its position in shares of Marvell Technology by 59.7% during the third quarter. Ameriprise Financial Inc. now owns 16,624,827 shares of the semiconductor company's stock worth $1,397,751,000 after purchasing an additional 6,217,952 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Marvell Technology by 47.0% during the third quarter. Franklin Resources Inc. now owns 11,903,051 shares of the semiconductor company's stock worth $1,000,689,000 after purchasing an additional 3,805,431 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its position in shares of Marvell Technology by 111.0% during the second quarter. Rafferty Asset Management LLC now owns 5,810,359 shares of the semiconductor company's stock worth $449,722,000 after purchasing an additional 3,056,808 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

About Marvell Technology

Marvell Technology Group is a global semiconductor company that designs and develops integrated circuits and related software for data infrastructure, networking, storage and connectivity markets. The company's product portfolio includes system-on-chip (SoC) solutions, Ethernet physical-layer transceivers (PHYs), switch and switch silicon, optical interconnect components, storage controllers, and security processors. Marvell's technology is used to enable high-performance data centers, carrier networks, enterprise and cloud storage, as well as connectivity in automotive and industrial applications.

Founded in 1995 and headquartered in Santa Clara, California, Marvell has grown through both organic development and strategic acquisitions to broaden its capabilities across networking and data interconnect.

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