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

Marvell Technology, Inc. (NASDAQ:MRVL) COO Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 87,931 shares of the company’s stock, valued at approximately $9,351,461.85. The trade was a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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 transaction 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 transaction of $735,000.00.

Marvell Technology Stock Up 3.5 %

Shares of MRVL opened at $111.04 on Thursday. The firm has a market cap of $96.08 billion, a P/E ratio of -65.32, a price-to-earnings-growth ratio of 1.58 and a beta of 1.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The firm’s 50-day simple moving average is $113.93 and its 200 day simple moving average is $91.57.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.

Institutional Trading of Marvell Technology

Several hedge funds have recently added to or reduced their stakes in MRVL. True Wealth Design LLC increased its position in Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying an additional 326 shares during the period. ORG Partners LLC raised 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 purchasing an additional 149 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in Marvell Technology in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology during the 4th quarter worth approximately $27,000. Finally, Kieckhefer Group LLC bought a new position in shares of Marvell Technology during the fourth quarter worth approximately $33,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on MRVL. Bank of America boosted their price target on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Stifel Nicolaus upped their price target on Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. KeyCorp lifted their price objective on shares of Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Cantor Fitzgerald increased their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average target price 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.