StockNews.com Lowers Marvell Technology (NASDAQ:MRVL) to Sell

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

Several other brokerages have also issued reports on MRVL. The Goldman Sachs Group boosted their price objective on shares of Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a report on Friday, August 30th. Barclays upped their price objective on shares of Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Citigroup reiterated a “buy” rating and issued a $91.00 target price on shares of Marvell Technology in a report on Monday, October 14th. Roth Mkm restated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $91.62.

Marvell Technology Price Performance

Shares of MRVL stock opened at $79.85 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The company has a market capitalization of $69.12 billion, a PE ratio of -70.66, a price-to-earnings-growth ratio of 3.17 and a beta of 1.45. The firm’s 50-day moving average is $71.99 and its two-hundred day moving average is $70.23. Marvell Technology has a 12 month low of $46.07 and a 12 month high of $85.76.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 EPS. Analysts predict that Marvell Technology will post 0.78 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $120,750.00. Following the completion of the sale, the chief financial officer now directly owns 110,253 shares of the company’s stock, valued at $8,875,366.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $120,750.00. Following the transaction, the chief financial officer now directly owns 110,253 shares in the company, valued at approximately $8,875,366.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Matthew J. Murphy sold 6,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 208,915 shares of the company’s stock, valued at approximately $15,311,380.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 255,000 shares of company stock worth $19,846,215 over the last 90 days. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Marvell Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in MRVL. American International Group Inc. lifted its stake in shares of Marvell Technology by 1.5% in the 4th quarter. American International Group Inc. now owns 66,986 shares of the semiconductor company’s stock worth $4,040,000 after acquiring an additional 993 shares during the period. CWM LLC boosted its holdings in Marvell Technology by 10.3% in the 1st quarter. CWM LLC now owns 15,761 shares of the semiconductor company’s stock valued at $1,117,000 after purchasing an additional 1,472 shares in the last quarter. NBC Securities Inc. increased its position in Marvell Technology by 124.8% during the 1st quarter. NBC Securities Inc. now owns 1,938 shares of the semiconductor company’s stock worth $137,000 after purchasing an additional 1,076 shares during the period. First Hawaiian Bank raised its stake in shares of Marvell Technology by 2.3% during the 1st quarter. First Hawaiian Bank now owns 8,286 shares of the semiconductor company’s stock worth $587,000 after buying an additional 186 shares in the last quarter. Finally, Wedmont Private Capital lifted its holdings in shares of Marvell Technology by 12.4% in the 1st quarter. Wedmont Private Capital now owns 4,809 shares of the semiconductor company’s stock valued at $353,000 after buying an additional 532 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

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.