Marvell Technology (NASDAQ:MRVL) Rating Increased to Hold at StockNews.com

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

Other analysts also recently issued research reports about the stock. KeyCorp dropped their target price on shares of Marvell Technology from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, April 8th. Morgan Stanley raised their target price on shares of Marvell Technology from $63.00 to $84.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. UBS Group upped their price target on shares of Marvell Technology from $70.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Roth Mkm reiterated a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a report on Friday, April 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price objective on shares of Marvell Technology in a research note on Friday, April 12th. Two analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $81.13.

Marvell Technology Price Performance

MRVL opened at $62.13 on Friday. Marvell Technology has a 1 year low of $36.90 and a 1 year high of $85.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69. The company’s 50 day simple moving average is $70.12 and its 200 day simple moving average is $62.33. The stock has a market capitalization of $53.80 billion, a PE ratio of -57.53, a P/E/G ratio of 4.54 and a beta of 1.50.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the company earned $0.34 EPS. The business’s quarterly revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts expect that Marvell Technology will post 0.72 EPS for the current year.

Marvell Technology declared that its board has approved a share repurchase program on Thursday, March 7th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of Marvell Technology 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 transaction, the executive vice president now directly owns 109,117 shares in the company, valued at approximately $7,774,586.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was 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 directly owns 109,117 shares in the company, valued at approximately $7,774,586.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $67.67, for a total value of $2,030,100.00. Following the transaction, the chief executive officer now directly owns 762,929 shares in the company, valued at approximately $51,627,405.43. The disclosure for this sale can be found here. Insiders sold a total of 108,000 shares of company stock worth $7,315,640 over the last 90 days. Insiders own 0.45% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Buck Wealth Strategies LLC boosted its position in Marvell Technology by 1,328.1% during the third quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 425 shares during the period. SRS Capital Advisors Inc. boosted its holdings in shares of Marvell Technology by 216.2% during the 2nd quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock worth $25,000 after buying an additional 281 shares during the period. SJS Investment Consulting Inc. grew its stake in Marvell Technology by 56.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 155 shares during the last quarter. Bruce G. Allen Investments LLC raised its holdings in 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 acquiring an additional 141 shares during the period. Finally, Resurgent Financial Advisors LLC acquired a new position in Marvell Technology during the 4th quarter worth $28,000. 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.