Marvell Technology, Inc. (NASDAQ:MRVL) EVP Sells $735,000.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the transaction, the executive vice president now owns 97,244 shares in the company, valued at $11,912,390. This represents a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, November 15th, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The shares were sold at an average price of $89.14, for a total value of $534,840.00.
• On Monday, October 21st, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The shares were sold at an average price of $80.77, for a total value of $484,620.00.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $109.11 on Friday. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. The stock’s 50-day moving average is $93.17 and its two-hundred day moving average is $77.87. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The firm has a market cap of $94.41 billion, a P/E ratio of -64.18, a PEG ratio of 3.72 and a beta of 1.46.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.22%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is presently -14.12%.

Analyst Ratings Changes

MRVL has been the topic of several research reports. Stifel Nicolaus reiterated a “buy” rating and issued a $125.00 price target (up from $114.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Bank of America lifted their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Needham & Company LLC increased their target price on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, TD Cowen increased their price objective on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and a consensus price target of $119.04.

Institutional Trading of Marvell Technology

Institutional investors have recently added to or reduced their stakes in the business. Davidson Kempner Capital Management LP raised its holdings in shares of Marvell Technology by 26.5% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock valued at $17,482,000 after purchasing an additional 52,365 shares in the last quarter. Braun Stacey Associates Inc. acquired a new position in Marvell Technology during the third quarter worth $16,435,000. Charles Schwab Investment Management Inc. increased its position in Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after buying an additional 66,654 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Marvell Technology by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock valued at $206,418,000 after buying an additional 535,203 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Marvell Technology in the third quarter worth about $3,432,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Company Profile

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.