Chris Koopmans Sells 6,000 Shares of Marvell Technology, Inc. (NASDAQ:MRVL) Stock

Marvell Technology, Inc. (NASDAQ:MRVL) COO Chris Koopmans sold 6,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the sale, the chief operating officer now directly owns 87,931 shares in the company, valued at approximately $9,351,461.85. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 value 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 value of $735,000.00.

Marvell Technology Stock Down 2.1 %

MRVL stock opened at $108.66 on Friday. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock has a market cap of $94.03 billion, a P/E ratio of -63.92, a PEG ratio of 1.59 and a beta of 1.40. The business’s 50-day moving average price is $113.93 and its 200-day moving average price is $91.69.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Centricity Wealth Management LLC purchased a new position in Marvell Technology in the 4th quarter worth approximately $26,000. ORG Partners LLC increased its stake in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares during the last quarter. Rialto Wealth Management LLC bought a new stake in Marvell Technology in the 4th quarter worth approximately $27,000. Kieckhefer Group LLC bought a new stake in Marvell Technology in the 4th quarter worth approximately $33,000. Finally, Financial Life Planners bought a new stake in Marvell Technology in the 4th quarter worth approximately $33,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MRVL has been the subject of several research analyst reports. Cantor Fitzgerald lifted their price objective on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Citigroup lifted their price objective on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Loop Capital lifted their price objective on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Bank of America lifted their price objective on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Melius Research upgraded Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

About Marvell Technology

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.