Marvell Technology, Inc. (NASDAQ:MRVL) COO Chris Koopmans Sells 6,000 Shares

Marvell Technology, Inc. (NASDAQ:MRVL) COO Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $412,980.00. Following the completion of the sale, the chief operating officer now owns 81,931 shares of the company’s stock, valued at $5,639,310.73. This trade represents a 6.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Chris Koopmans also recently made the following trade(s):

• On Tuesday, February 18th, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00.
• On Wednesday, January 22nd, Chris Koopmans sold 6,000 shares of Marvell Technology stock. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00.

Marvell Technology Stock Up 2.2 %

Shares of MRVL opened at $69.81 on Thursday. The stock’s 50-day moving average price is $100.89 and its two-hundred day moving average price is $93.72. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company has a market capitalization of $60.46 billion, a PE ratio of -41.06, a PEG ratio of 1.61 and a beta of 1.42. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Hedge Funds Weigh In On Marvell Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in MRVL. Zweig DiMenna Associates LLC increased its position in Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after purchasing an additional 12,700 shares during the period. Berbice Capital Management LLC acquired a new stake in shares of Marvell Technology during the fourth quarter worth $637,000. RFG Advisory LLC lifted its holdings in Marvell Technology by 6.2% in the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after buying an additional 2,507 shares during the period. Braun Stacey Associates Inc. bought a new stake in Marvell Technology during the third quarter valued at $16,435,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after acquiring an additional 66,654 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Benchmark reiterated a “buy” rating and set a $135.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. TD Cowen reduced their price objective on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Piper Sandler dropped their target price on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Bank of America reduced their price target on shares of Marvell Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. upped their target price on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $120.44.

About Marvell Technology

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.