Insider Selling: Marvell Technology, Inc. (NASDAQ:MRVL) EVP Sells $161,875.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) EVP Mark Casper sold 2,500 shares of the firm's stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $64.75, for a total value of $161,875.00. Following the sale, the executive vice president now directly owns 21,266 shares in the company, valued at $1,376,973.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Marvell Technology Stock Up 1.2 %

Marvell Technology stock traded up $0.75 during trading on Monday, reaching $62.88. The stock had a trading volume of 9,848,402 shares, compared to its average volume of 14,163,853. 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, Inc. has a 52-week low of $36.90 and a 52-week high of $85.76. The stock has a market cap of $54.45 billion, a PE ratio of -58.22, a P/E/G ratio of 4.54 and a beta of 1.50. The business has a 50 day moving average price of $69.97 and a 200 day moving average price of $62.40.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. The business 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 quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 EPS. On average, analysts predict that Marvell Technology, Inc. will post 0.72 EPS for the current year.

Marvell Technology announced that its board has authorized a stock buyback plan on Thursday, March 7th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

Marvell Technology Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.38%. Marvell Technology's dividend payout ratio (DPR) is presently -22.22%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Roth Mkm reiterated a "buy" rating and issued a $95.00 price objective on shares of Marvell Technology in a research report on Friday, April 12th. StockNews.com raised Marvell Technology from a "sell" rating to a "hold" rating in a research note on Saturday. Stifel Nicolaus reissued a "buy" rating and issued a $86.00 price target on shares of Marvell Technology in a research note on Friday, April 12th. Oppenheimer restated an "outperform" rating and set a $80.00 price objective (up from $70.00) on shares of Marvell Technology in a research report on Thursday, February 29th. Finally, Needham & Company LLC reissued a "buy" rating and set a $95.00 target price on shares of Marvell Technology in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $81.13.

Hedge Funds Weigh In On Marvell Technology

Several hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Marvell Technology during the 4th quarter worth $511,215,000. Matrix Capital Management Company LP lifted its holdings in Marvell Technology by 54.3% in the third quarter. Matrix Capital Management Company LP now owns 13,166,824 shares of the semiconductor company's stock worth $712,720,000 after acquiring an additional 4,634,127 shares during the last quarter. Brown Advisory Inc. grew its holdings in shares of Marvell Technology by 25.9% during the fourth quarter. Brown Advisory Inc. now owns 14,764,957 shares of the semiconductor company's stock valued at $890,475,000 after purchasing an additional 3,036,495 shares during the last quarter. Aspex Management HK Ltd boosted its position in Marvell Technology by 103.8% during the 4th quarter. Aspex Management HK Ltd now owns 5,712,564 shares of the semiconductor company's stock valued at $344,525,000 after purchasing an additional 2,908,912 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in Marvell Technology by 43.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,043,353 shares of the semiconductor company's stock valued at $381,257,000 after buying an additional 2,142,391 shares during the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

About Marvell Technology

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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