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 dated Monday, June 17th. The shares were sold at an average price of $73.42, for a total value of $367,100.00. Following the completion of the transaction, the executive vice president now owns 115,318 shares in the company, valued at approximately $8,466,647.56. The sale was disclosed in a filing with the SEC, which is available through 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 value 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 value of $356,250.00.

Marvell Technology Price Performance

MRVL opened at $73.14 on Wednesday. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year 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 business has a 50 day moving average of $69.90 and a 200-day moving average of $67.53.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the business earned $0.17 earnings per share. Marvell Technology’s revenue for the quarter was down 12.2% compared to the same quarter last year. On average, equities analysts expect that Marvell Technology, Inc. will post 0.75 EPS for the current fiscal year.

Marvell Technology announced that its board has authorized a stock repurchase plan on Thursday, March 7th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the semiconductor company to repurchase up to 4.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MRVL shares. B. Riley increased their price objective on Marvell Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price objective on shares of Marvell Technology in a report on Friday, May 31st. Morgan Stanley increased their price objective on Marvell Technology from $71.00 to $77.00 and gave the stock an “equal weight” rating in a report on Friday, May 31st. UBS Group increased their price objective on Marvell Technology from $70.00 to $83.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Finally, Citigroup reaffirmed a “buy” rating and set a $91.00 target price on shares of Marvell Technology in a research report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fred Alger Management LLC lifted its position in Marvell Technology by 2.4% in the third quarter. Fred Alger Management LLC now owns 4,036,564 shares of the semiconductor company’s stock worth $218,499,000 after purchasing an additional 95,003 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in Marvell Technology by 157.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 772 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 472 shares during the period. Hoylecohen LLC bought a new position in Marvell Technology in the fourth quarter worth $658,000. US Bancorp DE lifted its position in Marvell Technology by 8.6% in the fourth quarter. US Bancorp DE now owns 185,347 shares of the semiconductor company’s stock worth $11,178,000 after purchasing an additional 14,651 shares during the period. Finally, Franklin Resources Inc. lifted its position in Marvell Technology by 6.2% in the fourth quarter. Franklin Resources Inc. now owns 3,199,865 shares of the semiconductor company’s stock worth $192,984,000 after purchasing an additional 187,998 shares during the period. 83.51% of the stock is owned by institutional investors.

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.