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

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) EVP Chris Koopmans sold 5,000 shares of the business's stock in a transaction on Monday, June 17th. The stock was sold at an average price of $73.42, for a total transaction of $367,100.00. Following the transaction, the executive vice president now directly owns 115,318 shares in the company, valued at approximately $8,466,647.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, May 15th, Chris Koopmans sold 5,000 shares of Marvell Technology stock. The stock was sold at an average price of $68.57, for a total transaction of $342,850.00.
• On Monday, April 15th, Chris Koopmans sold 5,000 shares of Marvell Technology stock. The stock was sold at an average price of $71.25, for a total transaction of $356,250.00.

Marvell Technology Stock Up 1.8 %

NASDAQ:MRVL traded up $1.32 during trading hours on Tuesday, reaching $73.14. 8,743,337 shares of the stock were exchanged, compared to its average volume of 13,073,649. Marvell Technology, Inc. has a twelve month low of $46.07 and a twelve month high of $85.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 1.24. The firm has a 50 day moving average of $69.90 and a 200 day moving average of $67.53. The stock has a market cap of $63.31 billion, a PE ratio of -64.73, a PEG ratio of 3.47 and a beta of 1.46.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, hitting analysts' consensus estimates of $0.24. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm posted $0.17 EPS. The business's revenue was down 12.2% on a year-over-year basis. On average, equities analysts expect that Marvell Technology, Inc. will post 0.75 earnings per share for the current year.

Marvell Technology announced that its board has approved a stock repurchase plan on Thursday, March 7th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MRVL shares. Citigroup restated a "buy" rating and issued a $91.00 target price on shares of Marvell Technology in a research note on Wednesday, March 27th. TD Cowen boosted their target price on shares of Marvell Technology from $75.00 to $90.00 and gave the company an "outperform" rating in a research note on Friday, March 8th. Oppenheimer restated an "outperform" rating and issued a $90.00 target price (up previously from $80.00) on shares of Marvell Technology in a research note on Friday, May 31st. Stifel Nicolaus lifted their price target on Marvell Technology from $86.00 to $90.00 and gave the company a "buy" rating in a report on Friday, May 31st. Finally, B. Riley lifted their price target on Marvell Technology from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $85.00.

Institutional Investors Weigh In On Marvell Technology

Large investors have recently made changes to their positions in the stock. SJS Investment Consulting Inc. raised its stake in Marvell Technology by 56.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 155 shares during the period. Bruce G. Allen Investments LLC raised its stake in Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 141 shares during the period. Oliver Lagore Vanvalin Investment Group raised its stake in Marvell Technology by 46.2% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company's stock valued at $31,000 after acquiring an additional 165 shares during the period. Salomon & Ludwin LLC bought a new stake in Marvell Technology in the 1st quarter valued at $31,000. Finally, Raleigh Capital Management Inc. increased its position in Marvell Technology by 532.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 626 shares of the semiconductor company's stock worth $34,000 after buying an additional 527 shares during the period. 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.