Marvell Technology (NASDAQ:MRVL) Stock Rating Reaffirmed by Stifel Nicolaus

Marvell Technology (NASDAQ:MRVL)‘s stock had its “buy” rating reissued by equities research analysts at Stifel Nicolaus in a research report issued on Friday, Benzinga reports. They presently have a $95.00 price target on the semiconductor company’s stock, up from their prior price target of $90.00. Stifel Nicolaus’ price objective would indicate a potential upside of 24.61% from the company’s current price.

MRVL has been the topic of several other reports. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research note on Friday. Roth Mkm restated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday. Jefferies Financial Group assumed coverage on Marvell Technology in a report on Monday, May 13th. They issued a “buy” rating and a $85.00 price target for the company. Morgan Stanley raised their price objective on Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, B. Riley upped their target price on Marvell Technology from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $91.62.

Marvell Technology Trading Up 9.2 %

Shares of Marvell Technology stock opened at $76.24 on Friday. Marvell Technology has a 1 year low of $46.07 and a 1 year high of $85.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 1.24. The business has a 50 day moving average price of $67.95 and a 200 day moving average price of $69.47. The company has a market capitalization of $65.99 billion, a P/E ratio of -67.47, a P/E/G ratio of 2.99 and a beta of 1.47.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the business posted $0.18 earnings per share. Marvell Technology’s revenue was down 5.1% compared to the same quarter last year. Sell-side analysts anticipate that Marvell Technology will post 0.75 EPS for the current fiscal year.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $73.42, for a total value of $367,100.00. Following the transaction, the executive vice president now directly owns 115,318 shares of the company’s stock, valued at $8,466,647.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $73.42, for a total value of $367,100.00. Following the completion of the sale, the executive vice president now owns 115,318 shares of the company’s stock, valued at $8,466,647.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Muhammad Raghib Hussain sold 50,000 shares of Marvell Technology stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the sale, the insider now owns 838,571 shares in the company, valued at approximately $62,892,825. The disclosure for this sale can be found here. In the last three months, insiders sold 65,500 shares of company stock valued at $4,872,620. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new position in Marvell Technology in the second quarter valued at about $32,000. Clearbridge Investments LLC raised its position in shares of Marvell Technology by 3.0% in the 2nd quarter. Clearbridge Investments LLC now owns 5,189,682 shares of the semiconductor company’s stock valued at $362,759,000 after purchasing an additional 150,109 shares in the last quarter. New Century Financial Group LLC boosted its stake in shares of Marvell Technology by 46.4% during the 2nd quarter. New Century Financial Group LLC now owns 5,272 shares of the semiconductor company’s stock valued at $369,000 after buying an additional 1,670 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Marvell Technology by 13.4% during the second quarter. Cetera Investment Advisers now owns 199,109 shares of the semiconductor company’s stock worth $13,918,000 after buying an additional 23,591 shares in the last quarter. Finally, Truist Financial Corp increased its stake in shares of Marvell Technology by 15.4% in the second quarter. Truist Financial Corp now owns 974,756 shares of the semiconductor company’s stock worth $68,135,000 after buying an additional 129,831 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

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.