Insider Selling: Marvell Technology, Inc. (NASDAQ:MRVL) Insider Sells 150,000 Shares of Stock

Marvell Technology, Inc. (NASDAQ:MRVL) insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the transaction, the insider now owns 694,487 shares in the company, valued at approximately $55,906,203.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Marvell Technology Trading Down 0.1 %

MRVL opened at $79.85 on Friday. Marvell Technology, Inc. has a twelve month low of $46.07 and a twelve month high of $85.76. The company has a 50-day simple moving average of $71.99 and a 200 day simple moving average of $70.21. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $69.12 billion, a price-to-earnings ratio of -70.66, a P/E/G ratio of 3.17 and a beta of 1.45.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 earnings per share. Analysts predict that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.30%. Marvell Technology’s dividend payout ratio (DPR) is currently -21.24%.

Wall Street Analyst Weigh In

Several equities analysts have commented on MRVL shares. Roth Mkm reiterated a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. Evercore ISI upped their price objective on shares of Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Rosenblatt Securities upped their price target on shares of Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Benchmark upped their price target on shares of Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $95.00 price target (up from $90.00) on shares of Marvell Technology in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.62.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MRVL. Syon Capital LLC bought a new position in shares of Marvell Technology in the fourth quarter worth about $217,000. American International Group Inc. raised its holdings in Marvell Technology by 1.5% in the 4th quarter. American International Group Inc. now owns 66,986 shares of the semiconductor company’s stock valued at $4,040,000 after buying an additional 993 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Marvell Technology by 5.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 60,016 shares of the semiconductor company’s stock valued at $3,620,000 after buying an additional 3,109 shares during the last quarter. HighPoint Advisor Group LLC bought a new position in Marvell Technology in the 4th quarter valued at approximately $419,000. Finally, CWM LLC raised its holdings in Marvell Technology by 10.3% in the 1st quarter. CWM LLC now owns 15,761 shares of the semiconductor company’s stock valued at $1,117,000 after buying an additional 1,472 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

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.