Marvell Technology, Inc. (NASDAQ:MRVL – Get Free Report) EVP Chris Koopmans sold 2,000 shares of the business’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $63.56, for a total transaction of $127,120.00. Following the completion of the transaction, the executive vice president now owns 138,737 shares in the company, valued at $8,818,123.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Marvell Technology Trading Up 1.9 %
Shares of NASDAQ:MRVL opened at $65.76 on Wednesday. Marvell Technology, Inc. has a 52 week low of $33.75 and a 52 week high of $67.99. The company’s 50 day moving average is $56.94 and its two-hundred day moving average is $46.87. The company has a current ratio of 1.05, a quick ratio of 0.71 and a debt-to-equity ratio of 0.20. The company has a market cap of $56.55 billion, a PE ratio of -346.11, a P/E/G ratio of 12.38 and a beta of 1.39.
Marvell Technology (NASDAQ:MRVL – Get Free Report) last announced its quarterly earnings data on Thursday, May 25th. The semiconductor company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Marvell Technology had a negative net margin of 2.88% and a positive return on equity of 7.38%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the firm posted $0.37 EPS. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. Equities analysts predict that Marvell Technology, Inc. will post 0.86 earnings per share for the current fiscal year.
Marvell Technology Dividend Announcement
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Quilter Plc acquired a new position in shares of Marvell Technology in the 1st quarter valued at $248,250,000. Versant Capital Management Inc boosted its holdings in shares of Marvell Technology by 76.9% in the 2nd quarter. Versant Capital Management Inc now owns 474 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 206 shares in the last quarter. Barrett & Company Inc. acquired a new position in shares of Marvell Technology in the 1st quarter valued at $26,000. KB Financial Partners LLC acquired a new position in shares of Marvell Technology in the 1st quarter valued at $32,000. Finally, MADDEN SECURITIES Corp acquired a new position in shares of Marvell Technology in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 86.04% of the company’s stock.
Analyst Upgrades and Downgrades
MRVL has been the topic of several recent analyst reports. Craig Hallum boosted their target price on shares of Marvell Technology from $56.00 to $67.00 in a report on Friday, May 26th. JPMorgan Chase & Co. boosted their target price on shares of Marvell Technology from $60.00 to $70.00 in a report on Friday, May 26th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Marvell Technology from $50.00 to $65.00 in a report on Friday, May 26th. Evercore ISI boosted their price target on shares of Marvell Technology from $60.00 to $70.00 in a research note on Friday, May 26th. Finally, Bank of America boosted their price target on shares of Marvell Technology from $75.00 to $80.00 in a research note on Tuesday. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $64.07.
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, scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.
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