Insider Selling: Marvell Technology, Inc. (NASDAQ:MRVL) COO Sells 6,000 Shares of Stock

Marvell Technology, Inc. (NASDAQ:MRVL) COO Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the sale, the chief operating officer now owns 87,931 shares in the company, valued at approximately $9,351,461.85. This trade represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Wednesday, January 22nd, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The stock was 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 Price Performance

MRVL stock traded up $3.75 during mid-day trading on Wednesday, reaching $111.04. 13,231,932 shares of the company traded hands, compared to its average volume of 13,064,065. The company has a fifty day moving average price of $113.93 and a 200-day moving average price of $91.10. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The company has a market capitalization 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 current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Dividend Announcement

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

Analyst Ratings Changes

MRVL has been the topic of several recent research reports. Citigroup increased their price target on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Bank of America raised their price objective on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Institutional Trading of Marvell Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of MRVL. State Street Corp grew its position in shares of Marvell Technology by 0.3% during the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after purchasing an additional 68,893 shares in the last quarter. Invesco Ltd. increased its position in shares of Marvell Technology by 30.1% in the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock worth $1,784,649,000 after purchasing an additional 3,737,705 shares during the last quarter. Janus Henderson Group PLC raised its stake in Marvell Technology by 6.9% in the fourth quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company’s stock valued at $1,462,274,000 after purchasing an additional 857,087 shares in the last quarter. Wellington Management Group LLP grew its stake in Marvell Technology by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock worth $1,374,252,000 after buying an additional 3,747,982 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Marvell Technology by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock worth $1,263,755,000 after buying an additional 80,005 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

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