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Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) EVP Mitchell Gaynor sold 5,000 shares of the stock in a transaction on Thursday, September 15th. The stock 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 in the company, valued at $5,177,484.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Mitchell Gaynor also recently made the following trade(s):
- On Friday, July 15th, Mitchell Gaynor sold 5,000 shares of Marvell Technology stock. The shares were sold at an average price of $47.67, for a total value of $238,350.00.
Marvell Technology Stock Performance
Shares of NASDAQ:MRVL traded down $0.32 on Friday, hitting $46.35. The company’s stock 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 low of $41.07 and a 12 month high of $93.85. The company has a market capitalization of $39.52 billion, a price-to-earnings ratio of -174.85, a price-to-earnings-growth ratio of 1.96 and a beta of 1.51. The stock’s 50-day moving average is $51.04 and its two-hundred day moving average is $56.22. The company 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 released its quarterly earnings results on Thursday, August 25th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the business posted $0.21 earnings per share. The company’s revenue for the quarter was up 41.0% compared to the same quarter last year. On average, equities research analysts forecast that Marvell Technology, Inc. will post 1.61 EPS for the current year.
Institutional Trading of Marvell Technology
Several institutional investors have recently modified their holdings of MRVL. Covestor Ltd acquired a new stake in shares of Marvell Technology in the fourth quarter valued at $28,000. Bank of Montreal Can lifted 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’s stock valued at $39,322,000 after buying an additional 3,992 shares during the period. Ensign Peak Advisors Inc lifted its holdings in shares of Marvell Technology by 48.6% in the fourth quarter. Ensign Peak Advisors Inc now owns 1,104,605 shares of the semiconductor company’s stock valued at $96,641,000 after buying an additional 361,068 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Marvell Technology by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,240,993 shares of the semiconductor company’s stock valued at $196,065,000 after buying an additional 63,247 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of Marvell Technology by 46.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,291 shares of the semiconductor company’s stock 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 stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. Bank of America raised their price objective on Marvell Technology from $60.00 to $65.00 in a research report on Sunday, August 28th. The Goldman Sachs Group raised their price objective on Marvell Technology from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, August 26th. Raymond James reaffirmed a “buy” rating and set a $80.00 target price on shares of Marvell Technology in a research report on Friday, May 27th. Wells Fargo & Company dropped their target price 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 26th. Finally, Barclays dropped their target price on Marvell Technology from $80.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, July 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have given a buy rating to the company. According to data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.21.
About Marvell Technology
(Get Rating)
Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors.
Read More
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