Marvell Technology (NASDAQ:MRVL) Rating Lowered to “Sell” at StockNews.com

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

MRVL has been the topic of several other reports. Craig Hallum boosted their target price on shares of Marvell Technology from $88.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Oppenheimer raised their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Wells Fargo & Company increased their price target on shares of Marvell Technology from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Loop Capital upped their price objective on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Finally, Rosenblatt Securities boosted their price target on shares of Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $119.76.

Marvell Technology Stock Up 2.8 %

Shares of Marvell Technology stock opened at $113.56 on Wednesday. The stock’s fifty day moving average is $99.80 and its 200-day moving average is $80.88. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $98.26 billion, a PE ratio of -66.80, a price-to-earnings-growth ratio of 4.03 and a beta of 1.46. Marvell Technology has a 12-month low of $53.19 and a 12-month high of $126.15.

Insider Buying and Selling

In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the transaction, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew J. Murphy bought 13,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were acquired at an average price of $77.63 per share, for a total transaction of $1,009,190.00. Following the completion of the transaction, the chief executive officer now owns 221,915 shares in the company, valued at $17,227,261.45. This represents a 6.22 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 172,500 shares of company stock valued at $14,267,670. 0.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Marvell Technology

A number of institutional investors have recently added to or reduced their stakes in MRVL. True Wealth Design LLC lifted its position in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying an additional 326 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Marvell Technology in the 2nd quarter valued at $32,000. Quarry LP acquired a new stake in shares of Marvell Technology in the 2nd quarter valued at $32,000. Whittier Trust Co. grew its holdings in shares of Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 210 shares during the last quarter. Finally, Goodman Advisory Group LLC acquired a new stake in shares of Marvell Technology during the 3rd quarter worth about $37,000. 83.51% of the stock is owned by institutional investors and hedge funds.

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.