Marvell Technology (NASDAQ:MRVL) Raised to “Hold” at StockNews.com

Marvell Technology (NASDAQ:MRVL) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

A number of other research firms have also commented on MRVL. Stifel Nicolaus reaffirmed a “buy” rating and set a $95.00 price objective (up previously from $90.00) on shares of Marvell Technology in a research note on Friday, August 30th. Citigroup reiterated a “buy” rating and set a $91.00 price target on shares of Marvell Technology in a report on Monday, October 14th. Benchmark upped their price objective on shares of Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Morgan Stanley raised their target price 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. Finally, Rosenblatt Securities boosted their price target on Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 30th. Three equities research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.77.

Marvell Technology Price Performance

Marvell Technology stock traded down $0.43 during trading hours on Friday, hitting $92.51. The stock had a trading volume of 7,454,080 shares, compared to its average volume of 12,036,807. Marvell Technology has a 1-year low of $50.35 and a 1-year high of $95.09. The stock has a market capitalization of $81.98 billion, a price-to-earnings ratio of -83.34, a PEG ratio of 3.88 and a beta of 1.44. The stock’s fifty day moving average is $80.31 and its two-hundred day moving average is $73.36. 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 announced 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 negative net margin of 18.30% and a positive return on equity of 4.31%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the firm earned $0.18 earnings per share. The company’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 0.78 earnings per share for the current fiscal year.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, September 16th. The shares were sold at an average price of $73.87, for a total transaction of $110,805.00. Following the sale, the chief financial officer now owns 111,753 shares of the company’s stock, valued at $8,255,194.11. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ford Tamer sold 92,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 351,193 shares of the company’s stock, valued at approximately $26,044,472.88. The trade was a 20.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,000 shares of company stock valued at $20,899,260 over the last quarter. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MRVL. CreativeOne Wealth LLC purchased a new position in shares of Marvell Technology during the 1st quarter valued at approximately $393,000. Axxcess Wealth Management LLC bought a new position in Marvell Technology during the 1st quarter valued at $204,000. BOKF NA grew its holdings in Marvell Technology by 294.9% during the 1st quarter. BOKF NA now owns 36,594 shares of the semiconductor company’s stock worth $2,679,000 after acquiring an additional 27,327 shares in the last quarter. Tree Line Advisors Hong Kong Ltd. bought a new stake in shares of Marvell Technology in the 1st quarter worth about $31,896,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Marvell Technology in the 1st quarter valued at about $123,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

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.