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

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) EVP Chris Koopmans sold 5,000 shares of the firm's stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $68.57, for a total value of $342,850.00. Following the sale, the executive vice president now directly owns 119,719 shares of the company's stock, valued at $8,209,131.83. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, April 15th, Chris Koopmans sold 5,000 shares of Marvell Technology stock. The stock was sold at an average price of $71.25, for a total value of $356,250.00.
• On Friday, March 15th, Chris Koopmans sold 5,000 shares of Marvell Technology stock. The stock was sold at an average price of $66.44, for a total value of $332,200.00.

Marvell Technology Price Performance

Shares of Marvell Technology stock traded up $2.93 on Thursday, hitting $73.08. The company's stock had a trading volume of 18,110,694 shares, compared to its average volume of 13,395,906. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.27. The firm has a fifty day moving average price of $68.97 and a 200-day moving average price of $64.23. Marvell Technology, Inc. has a 52-week low of $42.03 and a 52-week high of $85.76. The company has a market capitalization of $63.25 billion, a P/E ratio of -68.68, a price-to-earnings-growth ratio of 4.98 and a beta of 1.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, hitting analysts' consensus estimates of $0.46. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The business had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.42 billion. During the same period last year, the company posted $0.34 EPS. The company's revenue was up .6% on a year-over-year basis. On average, equities research analysts expect that Marvell Technology, Inc. will post 0.73 earnings per share for the current fiscal year.

Marvell Technology announced that its board has approved a share repurchase program on Thursday, March 7th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 4.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th were given a $0.06 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.33%. Marvell Technology's dividend payout ratio is currently -22.22%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MRVL. Assetmark Inc. boosted its position in Marvell Technology by 22.7% during the third quarter. Assetmark Inc. now owns 12,506 shares of the semiconductor company's stock worth $677,000 after acquiring an additional 2,314 shares during the last quarter. Yousif Capital Management LLC lifted its stake in shares of Marvell Technology by 3.2% during the 3rd quarter. Yousif Capital Management LLC now owns 12,995 shares of the semiconductor company's stock worth $703,000 after purchasing an additional 405 shares during the period. Jennison Associates LLC boosted its holdings in shares of Marvell Technology by 1.5% during the third quarter. Jennison Associates LLC now owns 724,514 shares of the semiconductor company's stock worth $39,218,000 after purchasing an additional 10,437 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Marvell Technology by 36.3% during the third quarter. Teacher Retirement System of Texas now owns 88,329 shares of the semiconductor company's stock worth $4,781,000 after purchasing an additional 23,538 shares during the last quarter. Finally, Wealthfront Advisers LLC increased its stake in Marvell Technology by 98.7% in the third quarter. Wealthfront Advisers LLC now owns 48,281 shares of the semiconductor company's stock valued at $2,613,000 after purchasing an additional 23,979 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Analyst Ratings Changes

MRVL has been the subject of a number of recent research reports. Jefferies Financial Group started coverage on shares of Marvell Technology in a research note on Monday. They issued a "buy" rating and a $85.00 price target for the company. Evercore ISI began coverage on Marvell Technology in a report on Tuesday, April 16th. They set an "outperform" rating and a $88.00 price objective on the stock. Stifel Nicolaus reaffirmed a "buy" rating and set a $86.00 price target on shares of Marvell Technology in a research report on Friday, April 12th. Citigroup restated a "buy" rating and set a $91.00 target price on shares of Marvell Technology in a research report on Wednesday, March 27th. Finally, Roth Mkm restated a "buy" rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $81.28.

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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