Marvell Technology, Inc. (NASDAQ:MRVL) COO Sells $638,100.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL) COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the sale, the chief operating officer now directly owns 87,931 shares of the company’s stock, valued at $9,351,461.85. This represents a 6.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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.
• On Monday, December 16th, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00.

Marvell Technology Trading Up 3.5 %

NASDAQ:MRVL opened at $111.04 on Thursday. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The firm’s fifty day moving average is $113.93 and its 200-day moving average is $91.57. The firm has a market cap of $96.08 billion, a P/E ratio of -65.32, a P/E/G ratio of 1.58 and a beta of 1.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. Marvell Technology’s payout ratio is currently -14.12%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Toronto Dominion Bank increased its holdings in Marvell Technology by 18.4% in the fourth quarter. Toronto Dominion Bank now owns 147,803 shares of the semiconductor company’s stock worth $16,325,000 after purchasing an additional 22,937 shares in the last quarter. Cache Advisors LLC bought a new stake in shares of Marvell Technology in the 4th quarter valued at $1,205,000. GF Fund Management CO. LTD. bought a new position in Marvell Technology during the fourth quarter worth $26,780,000. Sunbelt Securities Inc. boosted its stake in Marvell Technology by 52.3% during the fourth quarter. Sunbelt Securities Inc. now owns 4,131 shares of the semiconductor company’s stock worth $461,000 after acquiring an additional 1,419 shares in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new stake in Marvell Technology in the fourth quarter worth $89,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Evercore ISI upped their target price on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Loop Capital raised their price objective on Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Melius Research raised Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. The Goldman Sachs Group raised their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Stifel Nicolaus upped their price objective on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

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.