StockNews.com Downgrades Marvell Technology (NASDAQ:MRVL) to Sell

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

Other research analysts have also issued reports about the stock. Barclays raised their price target on shares of Marvell Technology from $85.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Needham & Company LLC boosted their target price on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Benchmark reaffirmed a “buy” rating and set a $135.00 price target (up from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Rosenblatt Securities upped their price objective on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group raised their target price on Marvell Technology from $87.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.76.

Marvell Technology Stock Down 1.1 %

Marvell Technology stock traded down $1.21 during trading on Wednesday, hitting $110.45. 4,655,739 shares of the company were exchanged, compared to its average volume of 12,575,554. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $99.16 and its 200 day moving average is $80.65. Marvell Technology has a 52 week low of $53.19 and a 52 week high of $126.15. The company has a market capitalization of $95.57 billion, a P/E ratio of -64.97, a PEG ratio of 4.03 and a beta of 1.46.

Insider Activity at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy acquired 13,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was bought at an average price of $77.63 per share, with a total value of $1,009,190.00. Following the completion of the purchase, the chief executive officer now owns 221,915 shares of the company’s stock, valued at approximately $17,227,261.45. This represents a 6.22 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $120,750.00. Following the completion of the transaction, the chief financial officer now owns 110,253 shares in the company, valued at $8,875,366.50. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 172,500 shares of company stock valued at $14,267,670. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Several hedge funds have recently bought and sold shares of the stock. Davidson Kempner Capital Management LP boosted its holdings in shares of Marvell Technology by 26.5% in the 2nd quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock worth $17,482,000 after purchasing an additional 52,365 shares in the last quarter. Braun Stacey Associates Inc. purchased a new stake in Marvell Technology in the third quarter worth approximately $16,435,000. Charles Schwab Investment Management Inc. boosted its stake in Marvell Technology by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after buying an additional 66,654 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Marvell Technology by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after acquiring an additional 535,203 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Marvell Technology in the 3rd quarter worth approximately $3,432,000. 83.51% of the stock is currently owned by 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.