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

Marvell Technology, Inc. (NASDAQ:MRVL) EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the sale, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at $11,912,390. This trade represents a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, November 15th, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00.
• On Monday, October 21st, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00.

Marvell Technology Trading Down 6.2 %

MRVL opened at $105.28 on Thursday. The stock has a market capitalization of $91.10 billion, a PE ratio of -61.93, a P/E/G ratio of 3.72 and a beta of 1.46. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $126.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The business’s 50 day moving average price is $91.79 and its 200 day moving average price is $77.46.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s dividend payout ratio is presently -14.12%.

Analyst Ratings Changes

MRVL has been the subject of a number of recent research reports. Roth Mkm reiterated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Oppenheimer upped their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group upped their price target on Marvell Technology from $87.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Stifel Nicolaus reissued a “buy” rating and issued a $125.00 price objective (up from $114.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Finally, KeyCorp upped their target price on Marvell Technology from $95.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $119.04.

Institutional Trading of Marvell Technology

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Marvell Technology by 41.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 11,561 shares of the semiconductor company’s stock worth $808,000 after acquiring an additional 3,410 shares during the last quarter. Dakota Wealth Management grew its position in Marvell Technology by 1.9% in the 2nd quarter. Dakota Wealth Management now owns 12,303 shares of the semiconductor company’s stock valued at $860,000 after acquiring an additional 229 shares in the last quarter. Onyx Bridge Wealth Group LLC increased its stake in Marvell Technology by 8.5% during the second quarter. Onyx Bridge Wealth Group LLC now owns 4,392 shares of the semiconductor company’s stock worth $307,000 after purchasing an additional 344 shares during the period. Fifth Third Bancorp lifted its position in shares of Marvell Technology by 8.3% during the second quarter. Fifth Third Bancorp now owns 619,191 shares of the semiconductor company’s stock worth $43,281,000 after purchasing an additional 47,279 shares in the last quarter. Finally, Atria Wealth Solutions Inc. boosted its stake in shares of Marvell Technology by 11.8% in the second quarter. Atria Wealth Solutions Inc. now owns 43,734 shares of the semiconductor company’s stock valued at $3,057,000 after purchasing an additional 4,604 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

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.