Marvell Technology, Inc. (NASDAQ:MRVL) EVP Mark Casper Sells 2,500 Shares

Marvell Technology, Inc. (NASDAQ:MRVLGet Free Report) EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $70.07, for a total value of $175,175.00. Following the completion of the transaction, the executive vice president now owns 20,450 shares of the company’s stock, valued at approximately $1,432,931.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Mark Casper also recently made the following trade(s):

  • On Friday, April 19th, Mark Casper sold 2,500 shares of Marvell Technology stock. The shares were sold at an average price of $64.75, for a total transaction of $161,875.00.

Marvell Technology Price Performance

MRVL stock opened at $71.60 on Wednesday. Marvell Technology, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76. The company has a current ratio of 1.80, a quick ratio of 1.24 and a debt-to-equity ratio of 0.28. The stock’s fifty day moving average is $70.58 and its two-hundred day moving average is $68.66.

Marvell Technology (NASDAQ:MRVLGet Free Report) last issued its quarterly earnings data on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the firm posted $0.17 EPS. Marvell Technology’s quarterly revenue was down 12.2% compared to the same quarter last year. As a group, research analysts forecast that Marvell Technology, Inc. will post 0.75 earnings per share for the current fiscal year.

Marvell Technology announced that its Board of Directors has authorized a stock repurchase plan on Thursday, March 7th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to buy up to 4.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 12th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date is Friday, July 12th. Marvell Technology’s dividend payout ratio (DPR) is -21.24%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MRVL. Massmutual Trust Co. FSB ADV raised its stake in shares of Marvell Technology by 5.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 58,494 shares of the semiconductor company’s stock valued at $4,089,000 after purchasing an additional 3,253 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Marvell Technology by 87.6% during the 2nd quarter. GAMMA Investing LLC now owns 6,451 shares of the semiconductor company’s stock worth $451,000 after buying an additional 3,012 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Marvell Technology by 13.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,513 shares of the semiconductor company’s stock worth $100,000 after acquiring an additional 182 shares during the period. Westwood Holdings Group Inc. bought a new position in shares of Marvell Technology in the first quarter valued at approximately $6,985,000. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Marvell Technology during the first quarter valued at approximately $1,023,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on MRVL. Needham & Company LLC reissued a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research report on Friday, May 31st. Stifel Nicolaus raised their price objective on Marvell Technology from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Morgan Stanley upped their target price on Marvell Technology from $71.00 to $77.00 and gave the company an “equal weight” rating in a research report on Friday, May 31st. StockNews.com downgraded shares of Marvell Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Finally, Jefferies Financial Group initiated coverage on shares of Marvell Technology in a report on Monday, May 13th. They issued a “buy” rating and a $85.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

View Our Latest Analysis on Marvell Technology

Marvell Technology Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Marvell Technology (NASDAQ:MRVL)

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