Marvell Technology (NASDAQ:MRVL) Stock Rating Upgraded by TD Cowen

Marvell Technology (NASDAQ:MRVL) was upgraded by stock analysts at TD Cowen to a “strong-buy” rating in a research report issued on Monday, Zacks.com reports.

A number of other equities analysts have also commented on MRVL. Morgan Stanley raised their price target on shares of Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. B. Riley raised their target price on shares of Marvell Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Stifel Nicolaus reiterated a “buy” rating and issued a $95.00 price target (up from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. StockNews.com downgraded Marvell Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, September 10th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $90.00 price objective (up from $80.00) on shares of Marvell Technology in a report on Friday, May 31st. One equities 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.62.

Marvell Technology Trading Down 1.5 %

Shares of NASDAQ:MRVL opened at $73.40 on Monday. Marvell Technology has a 12-month low of $46.07 and a 12-month high of $85.76. The business has a 50 day moving average of $68.26 and a 200-day moving average of $69.79. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The stock has a market cap of $63.54 billion, a PE ratio of -64.96, a P/E/G ratio of 3.29 and a beta of 1.46.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the company posted $0.18 EPS. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, equities research analysts forecast that Marvell Technology will post 0.77 earnings per share for the current year.

Insider Activity

In other news, Director Daniel Durn bought 1,425 shares of the stock in a transaction on Monday, June 24th. The stock was acquired at an average price of $70.21 per share, with a total value of $100,049.25. Following the acquisition, the director now directly owns 1,923 shares in the company, valued at $135,013.83. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Ford Tamer sold 92,000 shares of Marvell Technology stock in a transaction 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 transaction, the director now owns 351,193 shares in the company, valued at $26,044,472.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel Durn acquired 1,425 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was bought at an average price of $70.21 per share, with a total value of $100,049.25. Following the completion of the acquisition, the director now directly owns 1,923 shares of the company’s stock, valued at $135,013.83. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 152,500 shares of company stock worth $11,328,240. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Institutional investors have recently made changes to their positions in the stock. Tlwm boosted its holdings in 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 acquiring an additional 136 shares during the last quarter. Bruce G. Allen Investments LLC lifted its holdings 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 period. Trueblood Wealth Management LLC boosted its position in Marvell Technology by 3.2% during 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 during the last quarter. Edmond DE Rothschild Holding S.A. grew its holdings in Marvell Technology by 0.5% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 30,764 shares of the semiconductor company’s stock worth $1,855,000 after acquiring an additional 162 shares during the period. Finally, Sheaff Brock Investment Advisors LLC lifted its stake in shares of Marvell Technology by 0.4% in the 1st 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. 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.