Marvell Technology, Inc. (NASDAQ:MRVL) COO Sells $412,980.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL) COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $412,980.00. Following the completion of the sale, the chief operating officer now directly owns 81,931 shares of the company’s stock, valued at $5,639,310.73. This trade represents a 6.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Tuesday, February 18th, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The shares were sold at an average price of $106.35, for a total value of $638,100.00.
• On Wednesday, January 22nd, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The stock was sold at an average price of $124.40, for a total value of $746,400.00.

Marvell Technology Price Performance

NASDAQ:MRVL opened at $70.49 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The stock’s 50-day simple moving average is $99.94 and its 200 day simple moving average is $93.56. The company has a market cap of $61.05 billion, a P/E ratio of -41.46, a P/E/G ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. UBS Group lifted their price objective on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Melius assumed coverage on Marvell Technology in a research note on Monday, January 27th. They set a “buy” rating and a $188.00 price objective for the company. Evercore ISI lifted their price objective on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. William Blair raised Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Finally, StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

Institutional Trading of Marvell Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased its position in Marvell Technology by 0.3% during the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after buying an additional 68,893 shares during the last quarter. Invesco Ltd. increased its position in Marvell Technology by 30.1% during the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock worth $1,784,649,000 after buying an additional 3,737,705 shares during the last quarter. Janus Henderson Group PLC increased its position in Marvell Technology by 6.9% during the fourth quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company’s stock worth $1,462,274,000 after buying an additional 857,087 shares during the last quarter. Wellington Management Group LLP increased its position in Marvell Technology by 43.1% during the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock worth $1,374,252,000 after buying an additional 3,747,982 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Marvell Technology by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock worth $1,263,755,000 after buying an additional 80,005 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

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.