Marvell Technology, Inc. (NASDAQ:MRVL) CEO Matthew J. Murphy Sells 30,000 Shares

Marvell Technology, Inc. (NASDAQ:MRVL) CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $54.45, for a total transaction of $1,633,500.00. Following the completion of the sale, the chief executive officer now directly owns 839,287 shares in the company, valued at $45,699,177.15. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Marvell Technology Price Performance

Shares of MRVL opened at $56.38 on Tuesday. The firm has a market capitalization of $48.64 billion, a PE ratio of -128.14, a price-to-earnings-growth ratio of 6.77 and a beta of 1.42. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.65. Marvell Technology, Inc. has a 1-year low of $33.75 and a 1-year high of $67.99. The company’s fifty day moving average price is $52.56 and its 200-day moving average price is $55.90.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. Marvell Technology had a negative net margin of 6.74% and a positive return on equity of 6.13%. The business’s quarterly revenue was down 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 earnings per share. On average, equities research analysts predict that Marvell Technology, Inc. will post 0.88 EPS for the current year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Friday, October 6th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Thursday, October 5th. Marvell Technology’s dividend payout ratio (DPR) is presently -54.55%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Bank of America reduced their target price on shares of Marvell Technology from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, August 25th. Oppenheimer reaffirmed an “outperform” rating and set a $70.00 target price on shares of Marvell Technology in a research report on Friday, August 25th. B. Riley raised their target price on shares of Marvell Technology from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, August 25th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. Finally, Evercore ISI reduced their target price on shares of Marvell Technology from $70.00 to $60.00 in a research report on Thursday, October 5th. Two equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.11.

Institutional Investors Weigh In On Marvell Technology

Large investors have recently made changes to their positions in the stock. Quilter Plc purchased a new stake in Marvell Technology in the first quarter valued at $248,250,000. SRS Capital Advisors Inc. boosted its holdings in Marvell Technology by 216.2% in the second quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 281 shares during the last quarter. West Tower Group LLC purchased a new stake in Marvell Technology in the second quarter valued at $25,000. Lindbrook Capital LLC raised its position in shares of Marvell Technology by 67.6% in the second quarter. Lindbrook Capital LLC now owns 429 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 173 shares during the period. Finally, Buck Wealth Strategies LLC raised its position in shares of Marvell Technology by 1,328.1% in the third quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 425 shares during the period. 83.32% of the stock is owned by hedge funds and other institutional investors.

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, scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.