Marvell Technology (NASDAQ:MRVL) Insider Sandeep Bharathi Sells 2,231 Shares

by · The Cerbat Gem

Marvell Technology, Inc. (NASDAQ:MRVLGet Free Report) insider Sandeep Bharathi sold 2,231 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $299.13, for a total value of $667,359.03. Following the transaction, the insider directly owned 55,530 shares in the company, valued at approximately $16,610,688.90. The trade was a 3.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sandeep Bharathi also recently made the following trade(s):

  • On Thursday, April 16th, Sandeep Bharathi sold 66,892 shares of Marvell Technology stock. The stock was sold at an average price of $130.35, for a total value of $8,719,372.20.
  • On Thursday, March 26th, Sandeep Bharathi sold 44,414 shares of Marvell Technology stock. The stock was sold at an average price of $99.61, for a total value of $4,424,078.54.

Marvell Technology Stock Performance

NASDAQ:MRVL traded up $10.87 during mid-day trading on Wednesday, reaching $289.54. 50,270,248 shares of the stock were exchanged, compared to its average volume of 27,841,770. The company has a 50 day simple moving average of $189.96 and a 200-day simple moving average of $122.53. The stock has a market capitalization of $253.29 billion, a P/E ratio of 99.16, a P/E/G ratio of 2.02 and a beta of 2.29. The company has a quick ratio of 2.66, a current ratio of 3.28 and a debt-to-equity ratio of 0.27. Marvell Technology, Inc. has a 1 year low of $61.44 and a 1 year high of $324.20.

Marvell Technology (NASDAQ:MRVLGet Free Report) last released its quarterly earnings results on Wednesday, May 27th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.41 billion. Marvell Technology had a return on equity of 13.83% and a net margin of 28.99%.The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. Marvell Technology has set its Q2 2027 guidance at 0.880-0.980 EPS. Analysts anticipate that Marvell Technology, Inc. will post 3.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MRVL. Rosenblatt Securities reissued a “buy” rating and set a $240.00 price objective on shares of Marvell Technology in a research report on Friday, June 12th. Wall Street Zen downgraded shares of Marvell Technology from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Cantor Fitzgerald raised their price target on Marvell Technology from $190.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, May 28th. Royal Bank Of Canada raised their price target on Marvell Technology from $170.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $240.00 price target on shares of Marvell Technology in a report on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $224.68.

View Our Latest Stock Report on Marvell Technology

Marvell Technology News Summary

Here are the key news stories impacting Marvell Technology this week:

Institutional Trading of Marvell Technology

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Marvell Technology by 23.5% in the 3rd quarter. Vanguard Group Inc. now owns 79,610,208 shares of the semiconductor company’s stock valued at $6,692,830,000 after buying an additional 15,166,976 shares in the last quarter. Norges Bank purchased a new stake in shares of Marvell Technology in the fourth quarter valued at $895,455,000. Ameriprise Financial Inc. lifted its holdings in Marvell Technology by 59.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 16,624,827 shares of the semiconductor company’s stock valued at $1,397,751,000 after purchasing an additional 6,217,952 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Marvell Technology by 47.0% in the 3rd quarter. Franklin Resources Inc. now owns 11,903,051 shares of the semiconductor company’s stock valued at $1,000,689,000 after purchasing an additional 3,805,431 shares in the last quarter. Finally, Rafferty Asset Management LLC lifted its holdings in Marvell Technology by 111.0% in the 2nd quarter. Rafferty Asset Management LLC now owns 5,810,359 shares of the semiconductor company’s stock valued at $449,722,000 after purchasing an additional 3,056,808 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Company Profile

(Get Free Report)

Marvell Technology Group is a global semiconductor company that designs and develops integrated circuits and related software for data infrastructure, networking, storage and connectivity markets. The company’s product portfolio includes system-on-chip (SoC) solutions, Ethernet physical-layer transceivers (PHYs), switch and switch silicon, optical interconnect components, storage controllers, and security processors. Marvell’s technology is used to enable high-performance data centers, carrier networks, enterprise and cloud storage, as well as connectivity in automotive and industrial applications.

Founded in 1995 and headquartered in Santa Clara, California, Marvell has grown through both organic development and strategic acquisitions to broaden its capabilities across networking and data interconnect.

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