Marvell Technology (NASDAQ:MRVL) Shares Down 4.9% on Insider Selling

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report)'s share price was down 4.9% during trading on Wednesday following insider selling activity. The stock traded as low as $71.56 and last traded at $71.93. Approximately 1,408,620 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 12,623,556 shares. The stock had previously closed at $75.60.Specifically, insider Muhammad Raghib Hussain sold 50,000 shares of the business's stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $75.00, for a total value of $3,750,000.00. Following the completion of the transaction, the insider now owns 838,571 shares of the company's stock, valued at $62,892,825. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Muhammad Raghib Hussain sold 50,000 shares of the business's stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $75.00, for a total value of $3,750,000.00. Following the completion of the sale, the insider now directly owns 838,571 shares in the company, valued at $62,892,825. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $69.18, for a total transaction of $2,075,400.00. Following the completion of the sale, the chief executive officer now owns 686,545 shares of the company's stock, valued at $47,495,183.10. The disclosure for this sale can be found here. Insiders sold a total of 102,500 shares of company stock valued at $7,417,110 over the last 90 days. Insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

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A number of research analysts have recently commented on the stock. StockNews.com cut shares of Marvell Technology from a "hold" rating to a "sell" rating in a research report on Wednesday, May 15th. Jefferies Financial Group assumed coverage on shares of Marvell Technology in a report on Monday, May 13th. They issued a "buy" rating and a $85.00 price target on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $95.00 price target on shares of Marvell Technology in a report on Friday, May 31st. Morgan Stanley upped their price target on shares of Marvell Technology from $71.00 to $77.00 and gave the company an "equal weight" rating in a report on Friday, May 31st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $85.00 price target on shares of Marvell Technology in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $85.24.

View Our Latest Report on MRVL

Marvell Technology Trading Down 5.1 %

• Marvell Technology Data Center Revenues Surge, But the Rest Fall

The company has a market cap of $62.13 billion, a P/E ratio of -62.57, a PEG ratio of 3.49 and a beta of 1.47. The company has a current ratio of 1.80, a quick ratio of 1.24 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average price of $71.79 and a 200-day moving average price of $69.60.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, hitting analysts' consensus estimates of $0.24. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. The firm's revenue was down 12.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.17 EPS. Analysts forecast that Marvell Technology, Inc. will post 0.75 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Friday, July 12th. Marvell Technology's dividend payout ratio is -21.24%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. grew its holdings in shares of Marvell Technology by 56.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 155 shares in the last quarter. Bruce G. Allen Investments LLC grew its holdings in shares of Marvell Technology by 56.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 141 shares in the last quarter. Oliver Lagore Vanvalin Investment Group grew its holdings in shares of Marvell Technology by 46.2% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company's stock worth $31,000 after purchasing an additional 165 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of Marvell Technology during the 1st quarter worth $31,000. Finally, Optimum Investment Advisors acquired a new stake in shares of Marvell Technology during the 1st quarter worth $35,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Company Profile

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.

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