Marvell Technology (NASDAQ:MRVL) Stock Rating Lowered by StockNews.com

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

Several other research analysts have also recently issued reports on the company. Evercore ISI increased their price objective on Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Benchmark boosted their price objective on shares of Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $100.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Needham & Company LLC reissued a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. Finally, Barclays lifted their price objective on Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, one has given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $91.62.

Marvell Technology Trading Up 0.3 %

Shares of MRVL stock opened at $72.24 on Wednesday. The company has a market capitalization of $62.53 billion, a P/E ratio of -63.18, a price-to-earnings-growth ratio of 3.12 and a beta of 1.46. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average is $68.59 and its two-hundred day moving average is $69.62. Marvell Technology has a twelve month low of $46.07 and a twelve month high of $85.76.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the firm earned $0.18 EPS. Marvell Technology’s quarterly revenue was down 5.1% on a year-over-year basis. Equities analysts forecast that Marvell Technology will post 0.78 EPS for the current year.

Insider Transactions at Marvell Technology

In other news, insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, July 15th. The shares were sold at an average price of $73.88, for a total value of $110,820.00. Following the completion of the transaction, the chief financial officer now owns 109,318 shares of the company’s stock, valued at $8,076,413.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the sale, the insider now directly owns 838,571 shares in the company, valued at $62,892,825. The disclosure for this sale can be found here. In the last quarter, insiders sold 160,000 shares of company stock worth $11,880,685. 0.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Marvell Technology

A number of institutional investors have recently modified their holdings of the business. Bruce G. Allen Investments LLC raised its stake in shares of Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after buying an additional 141 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in Marvell Technology in the first quarter worth about $31,000. Strategic Investment Solutions Inc. IL acquired a new stake in Marvell Technology in the 2nd quarter valued at about $32,000. Quarry LP bought a new stake in Marvell Technology during the second quarter worth approximately $32,000. Finally, Optimum Investment Advisors purchased a new stake in shares of Marvell Technology in the first quarter valued at $35,000. 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.