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 report issued to clients and investors on Saturday.

Other equities research analysts have also recently issued research reports about the company. Roth Mkm restated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a report on Friday, April 12th. Oppenheimer restated an “outperform” rating and issued a $80.00 price target (up from $70.00) on shares of Marvell Technology in a research note on Thursday, February 29th. UBS Group upped their price objective on Marvell Technology from $70.00 to $83.00 and gave the company a “buy” rating in a report on Monday, February 26th. Summit Insights raised Marvell Technology from a “hold” rating to a “buy” rating in a report on Friday, March 8th. Finally, KeyCorp decreased their price target on shares of Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, April 8th. Two analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.13.

Marvell Technology Trading Down 4.8 %

Shares of Marvell Technology stock opened at $62.13 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.21. The business has a fifty day simple moving average of $70.12 and a two-hundred day simple moving average of $62.33. Marvell Technology has a 1 year low of $36.90 and a 1 year high of $85.76. The company has a market capitalization of $53.80 billion, a price-to-earnings ratio of -57.53, a P/E/G ratio of 4.54 and a beta of 1.50.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. Marvell Technology’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 EPS. Research analysts forecast that Marvell Technology will post 0.72 EPS for the current year.

Marvell Technology declared that its Board of Directors has initiated a stock buyback plan on Thursday, March 7th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 4.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Marvell Technology

In related news, CEO Matthew J. Murphy sold 30,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $68.82, for a total value of $2,064,600.00. Following the sale, the chief executive officer now directly owns 716,545 shares of the company’s stock, valued at $49,312,626.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $68.82, for a total value of $2,064,600.00. Following the completion of the transaction, the chief executive officer now owns 716,545 shares of the company’s stock, valued at approximately $49,312,626.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $71.25, for a total transaction of $356,250.00. Following the completion of the sale, the executive vice president now owns 109,117 shares in the company, valued at approximately $7,774,586.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,000 shares of company stock valued at $7,315,640. Corporate insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Institutional investors and hedge funds have recently bought and sold shares of the company. Quilter Plc acquired a new position in Marvell Technology in the 1st quarter valued at approximately $248,250,000. Bruce G. Allen Investments LLC grew its stake in shares of Marvell Technology by 56.4% in the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 141 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in Marvell Technology by 216.2% in the second quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 281 shares during the period. SJS Investment Consulting Inc. raised its position in Marvell Technology by 56.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 155 shares during the last quarter. Finally, Buck Wealth Strategies LLC lifted its holdings in Marvell Technology by 1,328.1% during the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after buying an additional 425 shares during the period. 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.