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

Marvell Technology, Inc. (NASDAQ:MRVL) COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $412,980.00. Following the completion of the transaction, the chief operating officer now owns 81,931 shares in the company, valued at $5,639,310.73. This trade represents a 6.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, February 18th, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The shares were sold at an average price of $106.35, for a total value of $638,100.00.
• On Wednesday, January 22nd, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The shares were sold at an average price of $124.40, for a total value of $746,400.00.

Marvell Technology Stock Down 3.0 %

Shares of MRVL traded down $2.12 during midday trading on Tuesday, reaching $68.28. 11,550,789 shares of the company were exchanged, compared to its average volume of 12,668,982. The stock has a 50-day moving average price of $102.82 and a 200-day moving average price of $93.95. The company has a market cap of $59.13 billion, a price-to-earnings ratio of -40.16, a P/E/G ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Centricity Wealth Management LLC acquired a new position in shares of Marvell Technology in the fourth quarter worth about $26,000. ORG Partners LLC lifted its stake in shares of Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares in the last quarter. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology in the fourth quarter worth about $27,000. Kieckhefer Group LLC acquired a new position in shares of Marvell Technology in the fourth quarter worth about $33,000. Finally, Financial Life Planners acquired a new position in shares of Marvell Technology in the fourth quarter worth about $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MRVL. Susquehanna lifted their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a report on Wednesday, December 4th. B. Riley lifted their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Stifel Nicolaus cut their price target on Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Rosenblatt Securities reissued a “buy” rating and issued a $140.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Finally, Benchmark reissued a “buy” rating and issued a $135.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $120.44.

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.