Marvell Technology, Inc. (NASDAQ:MRVL) CEO Matthew J. Murphy sold 20,000 shares of the firm’s stock in a transaction on Monday, May 17th. The shares were sold at an average price of $42.66, for a total transaction of $853,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
MRVL stock traded down $0.36 during trading on Tuesday, hitting $42.45. 6,351,579 shares of the stock traded hands, compared to its average volume of 10,527,928. Marvell Technology, Inc. has a one year low of $27.35 and a one year high of $55.70. The stock has a market cap of $28.68 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 4.41 and a beta of 1.17. The company has a 50 day simple moving average of $46.88 and a 200 day simple moving average of $46.99. The company has a current ratio of 1.42, a quick ratio of 1.19 and a debt-to-equity ratio of 0.12.
Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Tuesday, March 2nd. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.29. Marvell Technology had a net margin of 51.19% and a return on equity of 3.76%. The firm had revenue of $797.82 million during the quarter, compared to the consensus estimate of $786.30 million. During the same period last year, the firm posted $0.17 EPS. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, analysts predict that Marvell Technology, Inc. will post 0.58 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in MRVL. OLD Second National Bank of Aurora bought a new position in Marvell Technology during the 4th quarter valued at about $25,000. Safeguard Investment Advisory Group LLC bought a new position in Marvell Technology during the 4th quarter valued at about $25,000. TRU Independence Asset Management 2 LLC bought a new position in Marvell Technology during the 4th quarter valued at about $25,000. Encompass Wealth Advisors LLC bought a new position in shares of Marvell Technology in the fourth quarter worth about $25,000. Finally, Tompkins Financial Corp bought a new position in shares of Marvell Technology in the fourth quarter worth about $27,000. 87.32% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on MRVL. BMO Capital Markets upgraded shares of Marvell Technology from a “market perform” rating to an “outperform” rating and raised their target price for the company from $45.00 to $50.00 in a research note on Monday, March 15th. Needham & Company LLC raised their target price on shares of Marvell Technology from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, May 13th. Morgan Stanley raised their target price on shares of Marvell Technology from $44.00 to $49.00 and gave the company an “equal weight” rating in a research note on Monday, March 8th. Barclays raised their target price on shares of Marvell Technology from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, January 26th. They noted that the move was a valuation call. Finally, Evercore ISI raised their price target on shares of Marvell Technology from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, March 12th. Four investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $49.96.
About Marvell Technology
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; application specific integrated circuits; and printer SoC products and application processors.
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