Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans Sells 5,000 Shares

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $71.25, for a total value of $356,250.00. Following the completion of the transaction, the executive vice president now owns 109,117 shares of the company’s stock, valued at approximately $7,774,586.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Friday, March 15th, Chris Koopmans sold 5,000 shares of Marvell Technology stock. The shares were sold at an average price of $66.44, for a total value of $332,200.00.
• On Thursday, February 15th, Chris Koopmans sold 5,000 shares of Marvell Technology stock. The shares were sold at an average price of $67.98, for a total value of $339,900.00.

Marvell Technology Stock Down 2.6 %

Shares of NASDAQ:MRVL opened at $66.48 on Thursday. Marvell Technology, Inc. has a 52 week low of $36.90 and a 52 week high of $85.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69. The company’s fifty day moving average is $70.37 and its 200-day moving average is $62.12. The company has a market capitalization of $57.57 billion, a PE ratio of -61.55, a P/E/G ratio of 4.99 and a beta of 1.50.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the company earned $0.34 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts predict that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th will be paid a $0.06 dividend. The ex-dividend date is Thursday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.36%. Marvell Technology’s dividend payout ratio is presently -22.22%.

Marvell Technology announced that its Board of Directors has approved a stock buyback plan on Thursday, March 7th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 4.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

MRVL has been the topic of several research reports. Roth Mkm reissued a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research report on Friday, April 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price target on shares of Marvell Technology in a research report on Friday, April 12th. KeyCorp dropped their price target on Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, April 8th. Citigroup reissued a “buy” rating and set a $91.00 price target on shares of Marvell Technology in a research report on Wednesday, March 27th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $80.00 target price (up from $70.00) on shares of Marvell Technology in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $81.13.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quilter Plc acquired a new position in Marvell Technology during the 1st quarter worth about $248,250,000. Bruce G. Allen Investments LLC lifted its position in Marvell Technology by 56.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after buying an additional 141 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in Marvell Technology by 216.2% during the 2nd quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock worth $25,000 after buying an additional 281 shares in the last quarter. SJS Investment Consulting Inc. lifted its position in Marvell Technology by 56.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after buying an additional 155 shares in the last quarter. Finally, Buck Wealth Strategies LLC lifted its position in Marvell Technology by 1,328.1% during the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after buying an additional 425 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

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.