Matthew J. Murphy Sells 30,000 Shares of Marvell Technology, Inc. (NASDAQ:MRVL) Stock

Marvell Technology, Inc. (NASDAQ:MRVL) CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $54.45, for a total transaction of $1,633,500.00. Following the sale, the chief executive officer now directly owns 839,287 shares in the company, valued at approximately $45,699,177.15. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Marvell Technology Stock Performance

Shares of MRVL opened at $56.38 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.65 and a current ratio of 1.03. Marvell Technology, Inc. has a twelve month low of $33.75 and a twelve month high of $67.99. The firm’s 50 day moving average price is $52.56 and its two-hundred day moving average price is $55.90. The firm has a market cap of $48.64 billion, a P/E ratio of -128.14, a PEG ratio of 6.77 and a beta of 1.42.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. Marvell Technology had a negative net margin of 6.74% and a positive return on equity of 6.13%. The firm’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 earnings per share. On average, analysts forecast that Marvell Technology, Inc. will post 0.88 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Friday, October 6th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Thursday, October 5th. Marvell Technology’s dividend payout ratio is presently -54.55%.

Institutional Trading of Marvell Technology

Institutional investors have recently made changes to their positions in the business. West Tower Group LLC bought a new stake in shares of Marvell Technology in the second quarter worth $25,000. Buck Wealth Strategies LLC raised its position in Marvell Technology by 1,328.1% during the third quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 425 shares in the last quarter. SRS Capital Advisors Inc. raised its position in Marvell Technology by 216.2% during 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 in the last quarter. Barrett & Company Inc. bought a new stake in Marvell Technology during the first quarter worth $26,000. Finally, Lindbrook Capital LLC raised its position in Marvell Technology by 67.6% during the second quarter. Lindbrook Capital LLC now owns 429 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 173 shares in the last quarter. Institutional investors own 83.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on MRVL. Evercore ISI decreased their price objective on shares of Marvell Technology from $70.00 to $60.00 in a report on Thursday, October 5th. Roth Mkm began coverage on shares of Marvell Technology in a report on Tuesday, November 14th. They set a “buy” rating and a $60.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price target on shares of Marvell Technology in a research report on Friday, August 25th. Susquehanna lifted their price target on shares of Marvell Technology from $60.00 to $70.00 and gave the stock a “positive” rating in a research report on Wednesday, August 23rd. Finally, Morgan Stanley lowered their price target on shares of Marvell Technology from $68.00 to $65.00 and set an “equal weight” rating for the company in a research report on Friday, August 25th. Two equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $66.11.

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, scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.