Marvell Technology, Inc. (NASDAQ:MRVL – Get Free Report) insider Muhammad Raghib Hussain sold 150,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the transaction, the insider now directly owns 694,487 shares in the company, valued at $55,906,203.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Marvell Technology Stock Performance
MRVL opened at $79.85 on Friday. Marvell Technology, Inc. has a twelve month low of $46.07 and a twelve month high of $85.76. The firm has a market capitalization of $69.12 billion, a PE ratio of -70.66, a PEG ratio of 3.17 and a beta of 1.45. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. The firm’s 50-day moving average price is $71.61 and its 200 day moving average price is $70.19.
Marvell Technology (NASDAQ:MRVL – Get Free Report) last issued its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the firm posted $0.18 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, sell-side analysts expect that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.
Marvell Technology Dividend Announcement
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Tlwm raised its stake in Marvell Technology by 1.6% during the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after purchasing an additional 136 shares during the period. Bruce G. Allen Investments LLC raised its position in shares of Marvell Technology by 56.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 141 shares during the period. New Century Financial Group LLC lifted its holdings in Marvell Technology by 3.0% in the third quarter. New Century Financial Group LLC now owns 5,428 shares of the semiconductor company’s stock valued at $391,000 after acquiring an additional 156 shares during the last quarter. Parisi Gray Wealth Management grew its position in Marvell Technology by 4.2% in the third quarter. Parisi Gray Wealth Management now owns 4,161 shares of the semiconductor company’s stock worth $300,000 after acquiring an additional 166 shares during the period. Finally, Sheaff Brock Investment Advisors LLC increased its stake in Marvell Technology by 0.4% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock worth $3,143,000 after acquiring an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.
Wall Street Analyst Weigh In
MRVL has been the subject of several recent research reports. Stifel Nicolaus reiterated a “buy” rating and set a $95.00 price target (up from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Citigroup reiterated a “buy” rating and issued a $91.00 target price on shares of Marvell Technology in a research note on Monday, October 14th. TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. StockNews.com cut shares of Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday. Finally, KeyCorp increased their target price on shares of Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $91.62.
Check Out Our Latest Report on Marvell Technology
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.
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