Chris Koopmans Sells 5,000 Shares of Marvell Technology, Inc. (NASDAQ:MRVL) Stock

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) EVP Chris Koopmans sold 5,000 shares of the company's stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $71.25, for a total value of $356,250.00. Following the sale, the executive vice president now owns 109,117 shares in the company, valued at $7,774,586.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Chris Koopmans also recently made the following trade(s):

• On Friday, March 15th, Chris Koopmans sold 5,000 shares of Marvell Technology stock. The shares were sold at an average price of $66.44, for a total transaction of $332,200.00.
• On Thursday, February 15th, Chris Koopmans sold 5,000 shares of Marvell Technology stock. The stock was sold at an average price of $67.98, for a total transaction of $339,900.00.

Marvell Technology Trading Down 2.6 %

Shares of NASDAQ MRVL traded down $1.80 during midday trading on Wednesday, reaching $66.48. The company had a trading volume of 9,751,177 shares, compared to its average volume of 14,243,271. The stock has a market cap of $57.57 billion, a PE ratio of -61.55, a price-to-earnings-growth ratio of 4.96 and a beta of 1.50. Marvell Technology, Inc. has a one year low of $36.90 and a one year high of $85.76. The firm's fifty day moving average price is $70.37 and its 200-day moving average price is $62.12. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.27.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The business's revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.34 earnings per share. On average, equities research analysts anticipate that Marvell Technology, Inc. will post 0.72 earnings per share for the current year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 12th will be paid a $0.06 dividend. The ex-dividend date is Thursday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.36%. Marvell Technology's payout ratio is presently -22.22%.

Marvell Technology declared that its board has approved a share repurchase plan on Thursday, March 7th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 4.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. SRS Capital Advisors Inc. lifted its stake in Marvell Technology by 216.2% in the second quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 281 shares during the period. Buck Wealth Strategies LLC lifted its position in shares of Marvell Technology by 1,328.1% in the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 425 shares during the period. SJS Investment Consulting Inc. lifted its position in shares of Marvell Technology by 56.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 155 shares during the period. Resurgent Financial Advisors LLC bought a new stake in shares of Marvell Technology during the 4th quarter valued at about $28,000. Finally, Bruce G. Allen Investments LLC increased its position in shares of Marvell Technology by 56.4% during the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company's stock valued at $28,000 after buying an additional 141 shares during the period. Institutional investors own 83.51% of the company's stock.

Analysts Set New Price Targets

MRVL has been the subject of several recent analyst reports. Stifel Nicolaus restated a "buy" rating and set a $86.00 target price on shares of Marvell Technology in a research report on Friday, April 12th. Raymond James upped their price objective on shares of Marvell Technology from $62.00 to $78.00 and gave the stock an "outperform" rating in a research report on Friday, January 19th. Roth Mkm reaffirmed a "buy" rating and issued a $95.00 target price on shares of Marvell Technology in a research note on Friday, April 12th. Morgan Stanley boosted their price target on shares of Marvell Technology from $63.00 to $84.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 7th. Finally, Evercore ISI assumed coverage on shares of Marvell Technology in a report on Tuesday. They issued an "outperform" rating and a $88.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat, Marvell Technology has a consensus rating of "Moderate Buy" and a consensus target price of $81.13.

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.