Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans Sells 6,000 Shares

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the sale, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. This represents a 6.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, December 16th, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00.
• On Friday, November 15th, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00.

Marvell Technology Price Performance

NASDAQ:MRVL opened at $124.02 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock has a 50 day moving average of $110.11 and a two-hundred day moving average of $86.27. The firm has a market cap of $107.31 billion, a P/E ratio of -72.95, a price-to-earnings-growth ratio of 4.12 and a beta of 1.41. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

Institutional Investors Weigh In On Marvell Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Marvell Technology by 0.3% during the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after buying an additional 68,893 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Marvell Technology by 24.1% during the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after acquiring an additional 2,254,610 shares during the last quarter. Geode Capital Management LLC raised its position in Marvell Technology by 2.0% in the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock valued at $818,916,000 after purchasing an additional 219,692 shares during the period. Wellington Management Group LLP lifted its stake in shares of Marvell Technology by 4.3% in the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after purchasing an additional 359,005 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after purchasing an additional 1,570,050 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MRVL shares. Wells Fargo & Company upped their target price on Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. B. Riley upped their target price on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Loop Capital raised their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus upped their price objective on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $125.38.

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.