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

Marvell Technology, Inc. (NASDAQ:MRVLGet Free Report) CEO Matthew Murphy sold 30,000 shares of the firm’s stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $98.70, for a total value of $2,961,000.00. Following the completion of the transaction, the chief executive officer owned 310,106 shares in the company, valued at approximately $30,607,462.20. This represents a 8.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Marvell Technology Price Performance

Shares of MRVL stock opened at $94.88 on Friday. The firm has a market cap of $82.97 billion, a price-to-earnings ratio of 30.81, a PEG ratio of 0.89 and a beta of 1.97. Marvell Technology, Inc. has a 12 month low of $47.08 and a 12 month high of $102.77. The company has a quick ratio of 1.58, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $83.36 and a 200 day moving average price of $84.33.

Marvell Technology (NASDAQ:MRVLGet Free Report) last released its earnings results on Thursday, March 5th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.21 billion. Marvell Technology had a net margin of 32.58% and a return on equity of 14.22%. The company’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS. Marvell Technology has set its Q1 2027 guidance at 0.740-0.840 EPS. Research analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, April 10th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, April 10th. Marvell Technology’s dividend payout ratio is currently 7.79%.

Hedge Funds Weigh In On Marvell Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Jessup Wealth Management Inc bought a new stake in shares of Marvell Technology in the 4th quarter valued at $25,000. Laurel Wealth Advisors LLC acquired a new stake in Marvell Technology during the 4th quarter worth $25,000. Cherry Tree Wealth Management LLC bought a new position in Marvell Technology during the fourth quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC grew its stake in Marvell Technology by 160.0% in the third quarter. Atlantic Edge Private Wealth Management LLC now owns 325 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 200 shares during the period. Finally, MidFirst Bank acquired a new position in Marvell Technology in the fourth quarter valued at about $28,000. 83.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of analyst reports. Roth Mkm lifted their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 3rd. Needham & Company LLC reduced their price target on Marvell Technology from $120.00 to $118.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. TD Cowen lifted their price objective on Marvell Technology from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, March 6th. B. Riley Financial reiterated a “buy” rating and issued a $135.00 price objective (up from $130.00) on shares of Marvell Technology in a report on Friday, March 6th. Finally, KGI Securities raised Marvell Technology from a “neutral” rating to an “outperform” rating and set a $110.00 target price on the stock in a research note on Friday, March 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $117.24.

View Our Latest Stock Analysis on Marvell Technology

Key Marvell Technology News

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Marvell Technology Company Profile

(Get Free Report)

Marvell Technology Group is a global semiconductor company that designs and develops integrated circuits and related software for data infrastructure, networking, storage and connectivity markets. The company’s product portfolio includes system-on-chip (SoC) solutions, Ethernet physical-layer transceivers (PHYs), switch and switch silicon, optical interconnect components, storage controllers, and security processors. Marvell’s technology is used to enable high-performance data centers, carrier networks, enterprise and cloud storage, as well as connectivity in automotive and industrial applications.

Founded in 1995 and headquartered in Santa Clara, California, Marvell has grown through both organic development and strategic acquisitions to broaden its capabilities across networking and data interconnect.

Further Reading

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

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