Marvell Technology, Inc. (NASDAQ:MRVL) CFO Sells $133,710.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL) CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the transaction, the chief financial officer now owns 114,211 shares of the company’s stock, valued at $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Marvell Technology Stock Performance

Marvell Technology stock traded up $0.88 during midday trading on Monday, hitting $88.71. 7,073,230 shares of the company’s stock were exchanged, compared to its average volume of 12,116,812. The stock has a market cap of $78.61 billion, a price-to-earnings ratio of -79.92, a price-to-earnings-growth ratio of 3.82 and a beta of 1.44. Marvell Technology, Inc. has a 12-month low of $50.35 and a 12-month high of $95.09. The firm’s 50 day simple moving average is $79.28 and its 200 day simple moving average is $72.96. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the firm earned $0.18 EPS. Marvell Technology’s quarterly revenue was down 5.1% on a year-over-year basis. Equities research analysts predict that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. Marvell Technology’s dividend payout ratio is currently -21.62%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays upped their price objective on shares of Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Stifel Nicolaus reiterated a “buy” rating and set a $95.00 price objective (up previously from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Bank of America raised their target price on Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Benchmark upped their price objective on shares of Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $91.77.

Institutional Investors Weigh In On Marvell Technology

Institutional investors have recently made changes to their positions in the stock. Orion Portfolio Solutions LLC boosted its holdings in Marvell Technology by 47.1% during the first quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock worth $2,282,000 after buying an additional 10,306 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Marvell Technology during the 1st quarter worth approximately $394,000. Covestor Ltd grew its holdings in shares of Marvell Technology by 231.1% in the 1st quarter. Covestor Ltd now owns 1,311 shares of the semiconductor company’s stock worth $93,000 after acquiring an additional 915 shares during the period. O Shaughnessy Asset Management LLC increased its stake in Marvell Technology by 22.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 26,743 shares of the semiconductor company’s stock valued at $1,896,000 after purchasing an additional 4,882 shares in the last quarter. Finally, UniSuper Management Pty Ltd boosted its position in Marvell Technology by 93.7% during the first quarter. UniSuper Management Pty Ltd now owns 12,200 shares of the semiconductor company’s stock worth $865,000 after purchasing an additional 5,900 shares in 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.