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

StockNews.com lowered shares of Marvell Technology (NASDAQ:MRVL) from a hold rating to a sell rating in a research report released on Tuesday morning.

Other analysts have also issued research reports about the company. Morgan Stanley increased their price target on Marvell Technology from $77.00 to $82.00 and gave the company an equal weight rating in a report on Friday, August 30th. Barclays increased their price target on Marvell Technology from $80.00 to $85.00 and gave the company an overweight rating in a report on Friday, August 30th. Oppenheimer restated an outperform rating and set a $90.00 price target (up previously from $80.00) on shares of Marvell Technology in a report on Friday, May 31st. KeyCorp upped their price objective on Marvell Technology from $90.00 to $95.00 and gave the company an overweight rating in a research report on Tuesday, July 9th. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $95.00 price objective (up previously from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. One equities 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 stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $91.62.

Marvell Technology Stock Up 0.2 %

Shares of MRVL opened at $74.48 on Tuesday. The stock has a market capitalization of $66.00 billion, a price-to-earnings ratio of -65.91, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46. Marvell Technology has a 1 year low of $46.07 and a 1 year high of $85.76. The business’s 50 day simple moving average is $68.21 and its 200-day simple moving average is $69.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the firm earned $0.18 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, equities analysts expect that Marvell Technology will post 0.77 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 12th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date was Friday, July 12th. Marvell Technology’s payout ratio is currently -21.24%.

Insider Activity at Marvell Technology

In related news, Director Daniel Durn acquired 1,425 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were bought at an average price of $70.21 per share, with a total value of $100,049.25. Following the completion of the transaction, the director now directly owns 1,923 shares in the company, valued at $135,013.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Daniel Durn acquired 1,425 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were bought at an average price of $70.21 per share, with a total value of $100,049.25. Following the completion of the transaction, the director now directly owns 1,923 shares in the company, valued at $135,013.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 838,571 shares of the company’s stock, valued at $62,892,825. The disclosure for this sale can be found here. Insiders have sold a total of 65,500 shares of company stock valued at $4,872,620 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marvell Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MRVL. Bruce G. Allen Investments LLC raised its stake 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 buying an additional 141 shares during the last quarter. Salomon & Ludwin LLC purchased a new stake in Marvell Technology in the first quarter valued at about $31,000. Strategic Investment Solutions Inc. IL purchased a new stake in Marvell Technology in the second quarter valued at about $32,000. Quarry LP purchased a new position in shares of Marvell Technology in the second quarter worth about $32,000. Finally, Optimum Investment Advisors purchased a new position in shares of Marvell Technology in the first quarter worth about $35,000. 83.51% of the stock is currently 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.