Marvell Technology (NASDAQ:MRVL) Raised to Hold at StockNews.com

by · The Markets Daily

Marvell Technology (NASDAQ:MRVL – Get Free Report) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

A number of other equities analysts also recently weighed in on the stock. Evercore ISI lifted their target price on shares of Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Roth Mkm reissued a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Barclays raised their target price on Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Needham & Company LLC reissued a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. Finally, The Goldman Sachs Group raised their price objective on shares of Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $91.62.

Check Out Our Latest Analysis on Marvell Technology

Marvell Technology Trading Up 4.7 %

NASDAQ MRVL opened at $74.88 on Wednesday. The firm has a market capitalization of $64.82 billion, a PE ratio of -66.27, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46. The business’s 50-day moving average price is $68.19 and its two-hundred day moving average price is $69.81. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. Marvell Technology has a 12 month low of $46.07 and a 12 month high of $85.76.

Marvell Technology (NASDAQ:MRVL – Get Free Report) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the business posted $0.18 earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis. On average, analysts expect that Marvell Technology will post 0.77 EPS for the current year.

Insider Activity at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy sold 6,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.29, for a total value of $439,740.00. Following the completion of the sale, the chief executive officer now directly owns 208,915 shares of the company’s stock, valued at approximately $15,311,380.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ford Tamer sold 92,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the completion of the sale, the director now owns 351,193 shares in the company, valued at $26,044,472.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew J. Murphy sold 6,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $73.29, for a total transaction of $439,740.00. Following the transaction, the chief executive officer now directly owns 208,915 shares of the company’s stock, valued at $15,311,380.35. The disclosure for this sale can be found here. Insiders have sold 160,000 shares of company stock valued at $11,878,785 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Several institutional investors have recently added to or reduced their stakes in MRVL. Vanguard Group Inc. boosted its stake in Marvell Technology by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 72,810,448 shares of the semiconductor company’s stock worth $5,160,805,000 after purchasing an additional 468,086 shares during the period. Capital Research Global Investors boosted its position in shares of Marvell Technology by 0.5% in the fourth quarter. Capital Research Global Investors now owns 35,791,266 shares of the semiconductor company’s stock valued at $2,158,601,000 after acquiring an additional 185,479 shares during the period. Matrix Capital Management Company LP lifted its stake in Marvell Technology by 14.3% in the 4th quarter. Matrix Capital Management Company LP now owns 15,055,500 shares of the semiconductor company’s stock worth $907,997,000 after purchasing an additional 1,888,676 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Marvell Technology by 13.4% in the 1st quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock valued at $955,400,000 after purchasing an additional 1,591,874 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Marvell Technology by 24.1% during the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after buying an additional 2,254,610 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

About Marvell Technology

(Get Free Report)

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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