Marvell Technology, Inc. (NASDAQ:MRVL – Get Free Report) 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 – Get Free Report) 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
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.
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