Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) EVP Chris Koopmans sold 5,000 shares of the firm's stock in a transaction on 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 directly owns 109,117 shares of the company's stock, valued at approximately $7,774,586.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
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 value of $332,200.00.
- On Thursday, February 15th, Chris Koopmans sold 5,000 shares of Marvell Technology stock. The shares were sold at an average price of $67.98, for a total value of $339,900.00.
Marvell Technology Stock Performance
Marvell Technology stock opened at $66.48 on Thursday. Marvell Technology, Inc. has a 12-month low of $36.90 and a 12-month high of $85.76. 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 business's 50-day moving average price is $70.37 and its two-hundred day moving average price is $62.12. The stock has a market cap of $57.57 billion, a PE ratio of -61.55, a P/E/G ratio of 4.99 and a beta of 1.50.
#1 election stock
From Porter & Company | Ad
I’ve found the number one company to buy…
Before either Trump or Biden wins in November.
It all has to do with an overlooked executive order that Trump signed just days before leaving office… and that Biden has quietly hijacked for his own political power.
For the full story, click here.
Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.46. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.42 billion. During the same quarter in the previous year, the business posted $0.34 earnings per share. The business's revenue for the quarter was up .6% on a year-over-year basis. As a group, analysts expect that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.
Marvell Technology announced that its Board of Directors has approved a share buyback plan on Thursday, March 7th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 4.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.
Marvell Technology Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend is Thursday, April 11th. Marvell Technology's payout ratio is -22.22%.
Institutional Trading of Marvell Technology
Hedge funds have recently made changes to their positions in the company. Quilter Plc acquired a new stake in shares of Marvell Technology during the first quarter valued at about $248,250,000. Bruce G. Allen Investments LLC boosted its stake 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 purchasing an additional 141 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Marvell Technology by 216.2% during the second quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 281 shares in the last quarter. SJS Investment Consulting Inc. boosted its stake in shares of Marvell Technology by 56.8% during the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 155 shares in the last quarter. Finally, Buck Wealth Strategies LLC boosted its stake in shares of Marvell Technology by 1,328.1% during the third quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 425 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the company. Oppenheimer reaffirmed an "outperform" rating and set a $80.00 price target (up previously from $70.00) on shares of Marvell Technology in a report on Thursday, February 29th. Cantor Fitzgerald reissued an "overweight" rating and set a $85.00 target price on shares of Marvell Technology in a report on Friday, April 12th. Morgan Stanley lifted their target price on Marvell Technology from $63.00 to $84.00 and gave the stock an "equal weight" rating in a report on Thursday, March 7th. Rosenblatt Securities reissued a "buy" rating and set a $100.00 target price on shares of Marvell Technology in a report on Monday, March 4th. Finally, Roth Mkm reissued a "buy" rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $81.13.
Get Our Latest Research Report on Marvell Technology
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
