Matthew J. Murphy Sells 30,000 Shares of Marvell Technology, Inc. (NASDAQ:MRVL) Stock

Marvell Technology, Inc. (NASDAQ:MRVL) CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $68.82, for a total transaction of $2,064,600.00. Following the completion of the sale, the chief executive officer now directly owns 716,545 shares of the company’s stock, valued at $49,312,626.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Marvell Technology Stock Performance

Shares of MRVL opened at $62.13 on Friday. Marvell Technology, Inc. has a 12 month low of $36.90 and a 12 month high of $85.76. The stock has a fifty day moving average price of $70.12 and a 200-day moving average price of $62.20. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.27. The firm has a market cap of $53.80 billion, a PE ratio of -57.53, a P/E/G ratio of 4.86 and a beta of 1.50.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the business posted $0.34 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts predict that Marvell Technology, Inc. will post 0.72 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 12th will be paid a $0.06 dividend. The ex-dividend date is Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.39%. Marvell Technology’s dividend payout ratio (DPR) is -22.22%.

Marvell Technology declared that its Board of Directors has initiated a share buyback program on Thursday, March 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 4.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

MRVL has been the subject of several research reports. Roth Mkm reissued a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research report on Friday, April 12th. Evercore ISI initiated coverage on shares of Marvell Technology in a research report on Tuesday. They issued an “outperform” rating and a $88.00 price objective for the company. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price objective on shares of Marvell Technology in a research report on Monday, March 4th. UBS Group boosted their price objective on shares of Marvell Technology from $70.00 to $83.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, Summit Insights raised shares of Marvell Technology from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. Two equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.13.

Hedge Funds Weigh In On Marvell Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quilter Plc purchased a new position in Marvell Technology in the 1st quarter worth $248,250,000. Bruce G. Allen Investments LLC raised its stake in Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 141 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in Marvell Technology by 216.2% in the 2nd quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 281 shares during the last quarter. SJS Investment Consulting Inc. raised its stake in Marvell Technology by 56.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 155 shares during the last quarter. Finally, Buck Wealth Strategies LLC grew its position in Marvell Technology by 1,328.1% during the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 425 shares during the period. Hedge funds and other 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.