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

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the transaction, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at $11,912,390. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, November 15th, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The stock was sold at an average price of $89.14, for a total value of $534,840.00.
• On Monday, October 21st, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00.

Marvell Technology Price Performance

MRVL stock opened at $112.25 on Wednesday. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $126.15. The firm has a market cap of $97.13 billion, a P/E ratio of -66.03, a P/E/G ratio of 3.72 and a beta of 1.46. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average price is $91.00 and its two-hundred day moving average price is $77.15.

Marvell Technology Dividend Announcement

The business 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. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Marvell Technology’s payout ratio is -14.12%.

Hedge Funds Weigh In On Marvell Technology

Institutional investors have recently added to or reduced their stakes in the business. Citizens Financial Group Inc. RI raised its stake in shares of Marvell Technology by 1.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after purchasing an additional 116 shares during the period. Crumly & Associates Inc. grew its position in Marvell Technology by 1.5% during the third quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock worth $593,000 after buying an additional 121 shares in the last quarter. United Capital Management of KS Inc. raised its position in shares of Marvell Technology by 0.4% during the 3rd quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after buying an additional 131 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in Marvell Technology by 1.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock worth $716,000 after buying an additional 139 shares during the last quarter. Finally, ASB Consultores LLC increased its holdings in shares of Marvell Technology by 3.8% in the third quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock worth $276,000 after buying an additional 140 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on MRVL. UBS Group boosted their price target on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Citigroup raised their price target on Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley lifted their price objective on shares of Marvell Technology from $82.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Evercore ISI lifted their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Finally, Loop Capital increased their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $119.04.

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.