Marvell Technology (NASDAQ:MRVL) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Marvell Technology (NASDAQ:MRVL) from a sell rating to a hold rating in a report published on Wednesday morning.

MRVL has been the subject of several other reports. Rosenblatt Securities raised their price objective on Marvell Technology from $100.00 to $120.00 and gave the company a buy rating in a research note on Friday, August 30th. Benchmark lifted their price target on Marvell Technology from $105.00 to $115.00 and gave the stock a buy rating in a research note on Friday, August 30th. Morgan Stanley increased their price objective on shares of Marvell Technology from $77.00 to $82.00 and gave the company an equal weight rating in a research note on Friday, August 30th. Bank of America lifted their target price on shares of Marvell Technology from $85.00 to $90.00 and gave the stock a buy rating in a research report on Friday, August 30th. Finally, KeyCorp increased their price target on shares of Marvell Technology from $90.00 to $95.00 and gave the company an overweight rating in a research report on Tuesday, July 9th. Two analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $91.62.

Marvell Technology Price Performance

Marvell Technology stock opened at $71.55 on Wednesday. The company has a market cap of $61.93 billion, a P/E ratio of -63.32, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46. Marvell Technology has a one year low of $46.07 and a one year high of $85.76. The business has a fifty day moving average of $68.14 and a two-hundred day moving average of $69.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data 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 negative net margin of 18.30% and a positive return on equity of 4.31%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the business earned $0.18 earnings per share. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, analysts predict that Marvell Technology will post 0.77 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.34%. The ex-dividend date is Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is -21.24%.

Insider Buying and Selling at Marvell Technology

In other news, Director Daniel Durn acquired 1,425 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was acquired at an average cost of $70.21 per share, for a total transaction of $100,049.25. Following the acquisition, the director now directly owns 1,923 shares in the company, valued at approximately $135,013.83. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Marvell Technology news, Director Ford Tamer sold 92,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 351,193 shares in the company, valued at $26,044,472.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel Durn bought 1,425 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was acquired at an average cost of $70.21 per share, for a total transaction of $100,049.25. Following the purchase, the director now owns 1,923 shares in the company, valued at approximately $135,013.83. The disclosure for this purchase can be found here. Insiders have sold a total of 160,000 shares of company stock worth $11,878,785 in the last quarter. 0.33% of the stock is owned by insiders.

Institutional Trading of Marvell Technology

Several large investors have recently added to or reduced their stakes in MRVL. Tlwm grew its stake in shares of Marvell Technology by 1.6% in the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock valued at $601,000 after buying an additional 136 shares in the last quarter. Bruce G. Allen Investments LLC grew its position in Marvell Technology by 56.4% in the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 141 shares in the last quarter. Trueblood Wealth Management LLC grew its position in Marvell Technology by 3.2% in the first quarter. Trueblood Wealth Management LLC now owns 4,944 shares of the semiconductor company’s stock valued at $350,000 after acquiring an additional 152 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its stake in shares of Marvell Technology by 0.5% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 30,764 shares of the semiconductor company’s stock valued at $1,855,000 after purchasing an additional 162 shares during the period. Finally, Sheaff Brock Investment Advisors LLC boosted its stake in shares of Marvell Technology by 0.4% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock valued at $3,143,000 after purchasing an additional 168 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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.