Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) EVP Loi Nguyen sold 872 shares of Marvell Technology stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $60.00, for a total value of $52,320.00. Following the completion of the sale, the executive vice president now directly owns 207,727 shares in the company, valued at approximately $12,463,620. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Loi Nguyen also recently made the following trade(s):
- On Tuesday, April 26th, Loi Nguyen sold 9,189 shares of Marvell Technology stock. The stock was sold at an average price of $60.00, for a total value of $551,340.00.
Shares of MRVL stock traded down $1.11 on Wednesday, reaching $58.04. 9,728,394 shares of the stock were exchanged, compared to its average volume of 11,249,028. The stock has a market cap of $49.37 billion, a P/E ratio of -95.15, a price-to-earnings-growth ratio of 2.01 and a beta of 1.27. The company has a quick ratio of 1.28, a current ratio of 1.80 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average of $61.26 and a two-hundred day moving average of $70.61. Marvell Technology, Inc. has a 1-year low of $46.77 and a 1-year high of $93.85.
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, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. Marvell Technology had a positive return on equity of 6.93% and a negative net margin of 9.82%. The business’s revenue for the quarter was up 73.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 EPS. On average, equities research analysts predict that Marvell Technology, Inc. will post 1.73 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Tufton Capital Management purchased a new stake in Marvell Technology during the 4th quarter worth $244,000. Cetera Investment Advisers boosted its position in Marvell Technology by 50.1% during the 3rd quarter. Cetera Investment Advisers now owns 21,937 shares of the semiconductor company’s stock worth $1,323,000 after purchasing an additional 7,326 shares during the period. Los Angeles Capital Management LLC boosted its position in Marvell Technology by 300.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 19,393 shares of the semiconductor company’s stock worth $1,697,000 after purchasing an additional 14,554 shares during the period. AIMZ Investment Advisors LLC boosted its position in Marvell Technology by 37.4% during the 4th quarter. AIMZ Investment Advisors LLC now owns 13,562 shares of the semiconductor company’s stock worth $1,187,000 after purchasing an additional 3,695 shares during the period. Finally, Cable Hill Partners LLC purchased a new stake in Marvell Technology during the 4th quarter worth $329,000. 83.11% of the stock is owned by hedge funds and other institutional investors.
MRVL has been the topic of several research analyst reports. UBS Group decreased their price target on Marvell Technology from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, May 23rd. Craig Hallum cut their price objective on Marvell Technology to $90.00 in a research report on Friday, May 27th. B. Riley cut their price objective on Marvell Technology from $95.00 to $72.00 in a research report on Monday, May 23rd. Susquehanna cut their price objective on Marvell Technology from $105.00 to $90.00 in a research report on Wednesday, May 25th. Finally, Oppenheimer cut their price objective on Marvell Technology from $110.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, May 20th. Four equities research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology presently has an average rating of “Buy” and a consensus target price of $86.57.
Marvell Technology Company Profile (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.
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