Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) EVP Loi Nguyen sold 1,512 shares of the company’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $60.00, for a total value of $90,720.00. Following the transaction, the executive vice president now directly owns 207,727 shares of the company’s stock, valued at $12,463,620. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Loi Nguyen also recently made the following trade(s):
- On Friday, May 27th, Loi Nguyen sold 872 shares of Marvell Technology stock. The shares were sold at an average price of $60.00, for a total value of $52,320.00.
- On Tuesday, April 26th, Loi Nguyen sold 9,189 shares of Marvell Technology stock. The shares were sold at an average price of $60.00, for a total value of $551,340.00.
Shares of MRVL traded down $1.89 during trading hours on Friday, hitting $59.54. The stock had a trading volume of 358,728 shares, compared to its average volume of 11,211,365. The company’s fifty day simple moving average is $61.02 and its 200 day simple moving average is $70.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.28 and a current ratio of 1.67. Marvell Technology, Inc. has a 12-month low of $46.77 and a 12-month high of $93.85. The firm has a market cap of $50.60 billion, a P/E ratio of -100.70, a P/E/G ratio of 1.89 and a beta of 1.27.
Marvell Technology (NASDAQ:MRVL – Get Rating) last released its quarterly earnings data on Thursday, May 26th. The semiconductor company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. Marvell Technology had a positive return on equity of 6.92% and a negative net margin of 9.82%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the company posted $0.15 earnings per share. The firm’s revenue was up 73.8% compared to the same quarter last year. As a group, sell-side analysts predict that Marvell Technology, Inc. will post 1.71 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Friday, July 8th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.40%. Marvell Technology’s dividend payout ratio (DPR) is -39.34%.
Several large investors have recently bought and sold shares of MRVL. Hsbc Holdings PLC increased its position in Marvell Technology by 45.3% in the third quarter. Hsbc Holdings PLC now owns 187,652 shares of the semiconductor company’s stock worth $11,331,000 after buying an additional 58,544 shares during the period. Johnson Investment Counsel Inc. bought a new position in Marvell Technology in the 3rd quarter valued at about $205,000. Caisse DE Depot ET Placement DU Quebec grew its position in Marvell Technology by 12.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 14,328 shares of the semiconductor company’s stock valued at $864,000 after buying an additional 1,600 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in Marvell Technology by 8.7% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,711 shares of the semiconductor company’s stock valued at $525,000 after buying an additional 700 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in Marvell Technology by 5.4% in the 3rd quarter. HighTower Advisors LLC now owns 83,412 shares of the semiconductor company’s stock valued at $5,026,000 after buying an additional 4,240 shares in the last quarter. 83.11% of the stock is owned by institutional investors.
A number of brokerages recently issued reports on MRVL. Rosenblatt Securities upped their target price on Marvell Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, March 4th. Zacks Investment Research raised Marvell Technology from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Tuesday. Bank of America reduced their price objective on Marvell Technology from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, May 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on Marvell Technology from $80.00 to $75.00 in a research note on Friday, May 27th. Finally, Cowen cut their target price on Marvell Technology from $100.00 to $85.00 in a research note on Friday, May 27th. Four equities research analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $86.57.
Marvell Technology Company Profile (Get Rating)
Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors.
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