Marvell Technology (NASDAQ:MRVL) Stock Rating Upgraded by StockNews.com

Marvell Technology (NASDAQ:MRVL) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Other equities analysts have also recently issued reports about the company. B. Riley increased their price target on Marvell Technology from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 31st. Evercore ISI increased their target price on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, August 30th. The Goldman Sachs Group boosted their price target on Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Rosenblatt Securities increased their price objective on shares of Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Stifel Nicolaus restated a “buy” rating and set a $95.00 target price (up from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Two research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus target price of $91.62.

Marvell Technology Price Performance

NASDAQ MRVL opened at $70.02 on Monday. Marvell Technology has a one year low of $46.07 and a one year high of $85.76. The stock has a 50-day moving average of $68.15 and a 200 day moving average of $69.57. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.24 and a current ratio of 1.80. The company has a market capitalization of $60.61 billion, a price-to-earnings ratio of -61.96, a PEG ratio of 3.61 and a beta of 1.47.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.26%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the firm posted $0.18 EPS. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, sell-side analysts forecast that Marvell Technology will post 0.75 EPS for the current year.

Insider Activity

In related news, insider Muhammad Raghib Hussain sold 50,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $62,892,825. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total value of $100,125.00. Following the sale, the chief financial officer now owns 113,253 shares of the company’s stock, valued at $7,559,637.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction, the insider now owns 838,571 shares of the company’s stock, valued at approximately $62,892,825. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,500 shares of company stock worth $4,872,620. 0.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Marvell Technology

A number of institutional investors and hedge funds have recently modified their holdings of MRVL. Vanguard Group Inc. grew its holdings in shares of Marvell Technology by 0.6% in the first 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 last quarter. Capital Research Global Investors grew its stake in 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 worth $2,158,601,000 after purchasing an additional 185,479 shares in the last quarter. Matrix Capital Management Company LP lifted its holdings in shares of 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 buying an additional 1,888,676 shares during the period. Brown Advisory Inc. grew its position in shares of Marvell Technology by 25.9% during the 4th quarter. Brown Advisory Inc. now owns 14,764,957 shares of the semiconductor company’s stock worth $890,475,000 after buying an additional 3,036,495 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Marvell Technology by 13.4% during the first quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock valued at $955,400,000 after buying an additional 1,591,874 shares during the period. 83.51% of the stock is owned by institutional investors.

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.