Marvell Technology, Inc. (NASDAQ:MRVL) EVP Sells $238,750.00 in Stock

Marvell Technology, Inc. (NASDAQ:MRVL – Get Rated) Executive Vice President Mitchell Gaynor sold 5,000 shares in a transaction on Thursday, September 15. The share was sold at an average price of $47.75, for a total value of $238,750.00. Following the completion of the transaction, the Executive Vice President now directly owns 108,429 shares of the company, valued at $5,177,484.75. The sale was disclosed in a document filed with the SEC, which is available on the SEC’s website.

Mitchell Gaynor also recently made the following trades:

  • On Friday, July 15, Mitchell Gaynor sold 5,000 shares of Marvell Technology. The shares were sold at an average price of $47.67, for a total value of $238,350.00.

Marvell Technology Stock Performance

NASDAQ:MRVL shares traded down $0.32 on Friday to settle at $46.35. The company’s shares had a trading volume of 12,439,734 shares, compared to its average volume of 10,680,904. Marvell Technology, Inc. has a 12-month minimum of $41.07 and a 12-month maximum of $93.85. The company has a market cap of $39.52 billion, a P/E ratio of -174.85, a P/E/Growth ratio of 1.96, and a beta of 1.51. The stock’s 50-day moving average is $51.04 and its 200-day moving average is $56.22. The firm has a debt-to-equity ratio of 0.25, a quick ratio of 0.93, and a current ratio of 1.35.

Marvell Technology (NASDAQ:MRVL – Get Rating) last published its quarterly earnings results on Thursday, August 25. The semiconductor company reported earnings per share (EPS) of $0.57 for the quarter, beating the consensus estimate of $0.56 by $0.01. Marvell Technology had a positive return on equity of 7.94% and a negative net margin of 3.95%. The company had revenue of $1.52 billion during the quarter, compared to analyst expectations of $1.52 billion. During the same quarter last year, the company posted earnings per share of $0.21. The company’s revenue for the quarter increased 41.0% compared to the same quarter last year. On average, stock research analysts forecast Marvell Technology, Inc. to post 1.61 EPS for the current year.

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Institutional Negotiation of Marvell Technology

Several institutional investors have recently modified their MRVL holdings. Covestor Ltd acquired a new shareholding in Marvell Technology in the fourth quarter valued at $28,000. Bank of Montreal Can increased its holdings in shares of Marvell Technology by 0.9% in the fourth quarter. Bank of Montreal Can now owns 449,295 shares of the semiconductor company valued at $39,322,000 after buying an additional 3,992 shares during the period. Ensign Peak Advisors Inc increased its stake in Marvell Technology stock by 48.6% in the fourth quarter. Ensign Peak Advisors Inc now owns 1,104,605 ​​shares of the semiconductor company valued at $96,641,000 after purchasing an additional 361,068 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Marvell Technology stock by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,240,993 shares of the semiconductor company valued at $196,065,000 after purchasing an additional 63,247 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in Marvell Technology stock by 46.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,291 shares of the semiconductor company valued at $725,000 after buying an additional 2,618 shares during the period. Institutional investors and hedge funds own 80.95% of the company’s shares.

Analyst promotions and demotions

Several research analysts have commented on the company. Bank of America raised its price target on Marvell Technology from $60.00 to $65.00 in a research report on Sunday, August 28. The Goldman Sachs Group raised its price target on Marvell Technology from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, August 26. Raymond James reaffirmed a “buy” rating and set an $80.00 price target on shares of Marvell Technology in a research report on Friday, May 27. Wells Fargo & Company lowered its price target on Marvell Technology from $65.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Friday, August 26. Ultimately, Barclays lowered its price target on Marvell Technology from $80.00 to $60.00 and placed an “overweight” rating on the stock in a research report on Monday, July 25. One research analyst rated the shares a sell rating, four issued a hold rating, and twenty-eight gave the company a buy rating. According to MarketBeat data, Marvell Technology currently has a “Moderate Buy” consensus rating and a consensus price target of $81.21.

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About Marvell Technology

(Get rating)

Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, and digital signal processing, and stand-alone integrated circuits. Offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multi-core processors; SO C; and System-on-a-Chip printer and application processor products.

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Quarterly Insider Trading for Marvell Technology (NASDAQ: MRVL)

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