Insider Selling: Marvell Technology, Inc. (NASDAQ:MRVL) COO Sells 6,000 Shares of Stock

Marvell Technology, Inc. (NASDAQ:MRVL) COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $412,980.00. Following the completion of the sale, the chief operating officer now owns 81,931 shares in the company, valued at approximately $5,639,310.73. This represents a 6.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, February 18th, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00.
• On Wednesday, January 22nd, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00.

Marvell Technology Stock Down 3.0 %

Shares of MRVL opened at $68.28 on Wednesday. The stock has a fifty day simple moving average of $101.86 and a two-hundred day simple moving average of $93.89. 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 has a market capitalization of $59.13 billion, a PE ratio of -40.16, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MRVL shares. Wells Fargo & Company restated an “overweight” rating on shares of Marvell Technology in a research report on Thursday, March 6th. Needham & Company LLC dropped their price objective on Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Raymond James set a $110.00 price objective on Marvell Technology in a research report on Thursday, March 6th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Oppenheimer upped their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.44.

Institutional Investors Weigh In On Marvell Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. 111 Capital purchased a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $2,770,000. Thoma Capital Management LLC purchased a new position in Marvell Technology in the fourth quarter worth approximately $883,000. Keystone Financial Services LLC acquired a new stake in Marvell Technology during the fourth quarter worth $224,000. Castle Rock Wealth Management LLC raised its position in Marvell Technology by 165.8% in the fourth quarter. Castle Rock Wealth Management LLC now owns 16,283 shares of the semiconductor company’s stock valued at $1,734,000 after purchasing an additional 10,157 shares during the period. Finally, Total Wealth Planning & Management Inc. acquired a new position in shares of Marvell Technology in the 4th quarter valued at $824,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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.