Muhammad Raghib Hussain Sells 150,000 Shares of Marvell Technology, Inc. (NASDAQ:MRVL) Stock

Marvell Technology, Inc. (NASDAQ:MRVL) 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) 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

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

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.

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.