Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) EVP Dean E. Jr. Jarnac sold 6,000 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $45.00, for a total value of $270,000.00. Following the completion of the transaction, the executive vice president now owns 12,879 shares of the company’s stock, valued at $579,555. The transaction was disclosed in a filing with the SEC, which is available at this link.
Marvell Technology Stock Performance
NASDAQ:MRVL traded up $0.72 during trading hours on Friday, reaching $45.46. The company had a trading volume of 11,048,016 shares, compared to its average volume of 11,658,308. Marvell Technology, Inc. has a 1-year low of $33.75 and a 1-year high of $61.50. The firm has a market cap of $39.06 billion, a PE ratio of -238.68, a price-to-earnings-growth ratio of 15.13 and a beta of 1.44. The business’s 50 day moving average price is $40.35 and its 200-day moving average price is $41.25. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.37 and a quick ratio of 0.93.
Marvell Technology (NASDAQ:MRVL – Get Rating) last issued its quarterly earnings results on Thursday, March 2nd. The semiconductor company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). Marvell Technology had a positive return on equity of 8.46% and a negative net margin of 2.76%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the firm posted $0.35 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Research analysts forecast that Marvell Technology, Inc. will post 0.86 EPS for the current year.
Marvell Technology Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 26th. Shareholders of record on Friday, April 7th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.53%. The ex-dividend date was Wednesday, April 5th. Marvell Technology’s payout ratio is currently -126.32%.
Institutional Trading of Marvell Technology
Large investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in shares of Marvell Technology by 0.4% in the 1st quarter. FMR LLC now owns 128,532,727 shares of the semiconductor company’s stock valued at $5,565,467,000 after purchasing an additional 555,578 shares during the last quarter. Vanguard Group Inc. lifted its stake in Marvell Technology by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 66,690,673 shares of the semiconductor company’s stock worth $2,861,697,000 after acquiring an additional 598,783 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Marvell Technology by 118,898.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 62,452,538 shares of the semiconductor company’s stock worth $2,313,242,000 after acquiring an additional 62,400,056 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Marvell Technology by 123.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,009,812 shares of the semiconductor company’s stock worth $1,819,025,000 after acquiring an additional 23,220,407 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in Marvell Technology by 6.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 25,272,190 shares of the semiconductor company’s stock worth $936,082,000 after acquiring an additional 1,603,857 shares in the last quarter. 81.28% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Marvell Technology from $72.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, March 3rd. Credit Suisse Group cut their price objective on Marvell Technology from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, March 3rd. StockNews.com initiated coverage on Marvell Technology in a research note on Thursday. They issued a “hold” rating for the company. Susquehanna reissued a “positive” rating and issued a $50.00 target price on shares of Marvell Technology in a research note on Thursday, March 9th. Finally, KeyCorp lowered their target price on Marvell Technology from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, March 3rd. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus price target of $58.00.
Marvell Technology Company Profile
Marvell Technology, Inc engages in the provision of data infrastructure semiconductor solutions. It offers compute, networking, storage, and custom solutions. The firm designs, develops, and sells integrated circuits. The company was founded by Wei Li Dai, Pantas Sutardja, and Sehat Sutardja in 1995 and is headquartered in Wilmington, DE.
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