Marvell Technology, Inc. (NASDAQ: MRVL – Get Rating) Executive Vice President Loi Nguyen sold 1,512 shares of the company’s stock in a deal on Thursday (June 2nd). The shares were sold at an average price of $ 60.00, for a total value of $ 90,720.00. Following the deal, the executive vice president now directly owns 207,727 shares of the company’s stock worth $ 12,463,620. The transaction is disclosed in SEC documentation, which is accessible through this link.
Loi Nguyen also recently made the following deals:
- On Friday, May 27, Loi Nguyen sold 872 shares of Marvell Technology. The shares were sold at an average price of $ 60.00, for a total value of $ 52,320.00.
- On Tuesday, April 26, Loi Nguyen sold 9,189 shares of Marvell Technology. The shares were sold at an average price of $ 60.00, for a total value of $ 551,340.00.
Shares of MRVL traded down $ 1.89 during trading on Friday, reaching $ 59.54. The trading volume of the shares is 358,728 shares, compared to its average volume of 11,211,365. The company’s 50-day simple moving average is $ 61.02, and its 200-day simple moving average is $ 70.53. The company has a debt-to-equity ratio of 0.29, a fast ratio of 1.28 and a current ratio of 1.67. Marvell Technology, Inc. has a 12-month low of $ 46.77 and a 12-month high of $ 93.85. The company has a market capitalization of $ 50.60 billion, a P / E ratio of -100.70, a P / E / G ratio of 1.89 and a beta ratio of 1.27.
Marvell Technology (NASDAQ: MRVL – Get Rating) last released its quarterly earnings data on Thursday, May 26th. The semiconductor company reported $ 0.52 EPS for the quarter, beating the consensus estimate of $ 0.51 by $ 0.01. Marvell Technology has a positive return on equity of 6.92% and a negative net profit of 9.82%. The company had revenue of $ 1.45 billion for the quarter, compared to analysts’ estimates of $ 1.43 billion. During the same period last year, the company reported $ 0.15 earnings per share. The company’s revenues increased by 73.8% compared to the same quarter last year. As a group, sales analysts predict that Marvell Technology, Inc. will report 1.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend to be paid on Wednesday (July 27th). The record investors on Friday, July 8, will receive a dividend of $ 0.06. This represents a dividend of $ 0.24 on an annual basis and a yield of 0.40%. The dividend payout ratio (DPR) of Marvell Technology is -39.34%.
Several major investors recently bought and sold MRVL shares. Hsbc Holdings PLC increased its position in Marvell Technology by 45.3% in the third quarter. Hsbc Holdings PLC already owns 187,652 shares of the semiconductor company’s stock worth $ 11,331,000 after purchasing an additional 58,544 shares during the period. Johnson Investment Counsel Inc. bought a new position in Marvell Technology in the third quarter worth about $ 205,000. Caisse DE Depot ET Placement DU Quebec increased its position in Marvell Technology by 12.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec already owns 14,328 shares of the semiconductor company worth $ 864,000 after buying an additional 1,600 shares in the last quarter. Meiji Yasuda Asset Management Co. Ltd. increased its position in Marvell Technology by 8.7% in the third quarter. Meiji Yasuda Asset Management Co. Ltd. it now owns 8,711 shares of the semiconductor company’s $ 525,000 stock after buying an additional 700 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in Marvell Technology by 5.4% in the third quarter. HighTower Advisors LLC now owns 83,412 shares of the $ 5,026,000 semiconductor company after buying an additional 4,240 shares in the last quarter. 83.11% of the shares are owned by institutional investors.
A number of brokers have recently issued MRVL reports. Rosenblatt Securities raised its Marvell Technology target from $ 120.00 to $ 125.00 and gave the company a buy rating in a research report Friday, March 4th. Zacks Investment Research raised Marvell Technology from a “hold” rating to a “buy” rating and set a price target for the company of $ 64.00 in a research note on Tuesday. Bank of America lowered its Marvell Technology price target from $ 100.00 to $ 90.00 and set a buy rating for the company in a research note on Friday (May 27th). Deutsche Bank Aktiengesellschaft reduced its price target for Marvell Technology from $ 80.00 to $ 75.00 in a research note on Friday, May 27. Finally, Cowen lowered his target price for Marvell Technology from $ 100.00 to $ 85.00 in a research note on Friday, May 27. Four stock research analysts rated the stocks with a retention rating, and twenty-eight rated the stock purchase rating. Based on data from MarketBeat.com, the company currently has a consensus Buy rating and an average target price of $ 86.57.
Company Profile Marvell Technology (Get an estimate)
Marvell Technology, Inc., together with its subsidiaries, designs, develops and sells analog, mixed signals, digital signal processing and embedded and stand-alone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers and switches; single-core or multi-core processors; ASIC; and printer System-on-a-Chip products and processors for applications.
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