Marvell Technology (NASDAQ:MRVL) PT Lowered to $72.00 at B. Riley

Marvell Technology (NASDAQ:MRVL – Get Rating) had its price objective dropped by analysts at B. Riley from $95.00 to $72.00 in a report issued on Monday, The Fly reports. B. Riley’s target price points to a potential upside of 33.14% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Barclays reduced their price objective on shares of Marvell Technology from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, April 25th. Summit Insights lowered shares of Marvell Technology from a “buy” rating to a “hold” rating in a research note on Friday, March 4th. Rosenblatt Securities upped their price objective on shares of Marvell Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, March 4th. Morgan Stanley reduced their price objective on shares of Marvell Technology from $86.00 to $80.00 and set an “equal weight” rating for the company in a research note on Friday, March 4th. Finally, Wells Fargo & Company reduced their price objective on shares of Marvell Technology from $80.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, March 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology currently has an average rating of “Buy” and an average price target of $92.85.

Shares of NASDAQ MRVL opened at $54.08 on Monday. Marvell Technology has a twelve month low of $46.51 and a twelve month high of $93.85. The company has a current ratio of 1.80, a quick ratio of 1.28 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average of $63.28 and a two-hundred day moving average of $71.45. The company has a market capitalization of $46.01 billion, a price-to-earnings ratio of -100.15, a PEG ratio of 1.80 and a beta of 1.27.

Marvell Technology (NASDAQ:MRVL – Get Rating) last posted its quarterly earnings data on Thursday, March 3rd. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Marvell Technology had a negative net margin of 9.44% and a positive return on equity of 5.60%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the firm posted $0.21 EPS. The business’s revenue for the quarter was up 68.3% on a year-over-year basis. As a group, research analysts predict that Marvell Technology will post 1.73 earnings per share for the current year.

In other news, EVP Dean E. Jr. Jarnac sold 6,000 shares of the firm’s stock in a transaction on Tuesday, April 19th. The shares were sold at an average price of $60.96, for a total value of $365,760.00. Following the sale, the executive vice president now owns 24,879 shares in the company, valued at $1,516,623.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Dan Christman sold 4,810 shares of the firm’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $57.28, for a total value of $275,516.80. Following the completion of the transaction, the executive vice president now directly owns 108,393 shares of the company’s stock, valued at $6,208,751.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,610 shares of company stock worth $13,591,746. 0.45% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Marvell Technology by 3.4% in the fourth quarter. BlackRock Inc. now owns 70,754,622 shares of the semiconductor company’s stock worth $6,190,323,000 after purchasing an additional 2,305,751 shares during the period. Vanguard Group Inc. lifted its position in Marvell Technology by 2.9% in the first quarter. Vanguard Group Inc. now owns 64,581,244 shares of the semiconductor company’s stock worth $4,631,120,000 after purchasing an additional 1,847,159 shares during the period. Wellington Management Group LLP lifted its position in Marvell Technology by 15.7% in the third quarter. Wellington Management Group LLP now owns 45,843,799 shares of the semiconductor company’s stock worth $2,764,839,000 after purchasing an additional 6,222,814 shares during the period. State Street Corp lifted its position in Marvell Technology by 0.9% in the first quarter. State Street Corp now owns 18,632,316 shares of the semiconductor company’s stock worth $1,336,123,000 after purchasing an additional 174,753 shares during the period. Finally, Brown Advisory Inc. lifted its position in Marvell Technology by 20.7% in the fourth quarter. Brown Advisory Inc. now owns 12,746,528 shares of the semiconductor company’s stock worth $1,115,193,000 after purchasing an additional 2,188,891 shares during the period. 83.11% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Company Profile (Get Rating)

Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors.

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