Marvell Technology (MRVL) – Research Analysts’ Weekly Ratings Changes

A number of firms have modified their ratings and price targets on shares of Marvell Technology (NASDAQ: MRVL) recently:

• 4/16/2024 – Marvell Technology is now covered by analysts at Evercore ISI. They set an “outperform” rating and a $88.00 price target on the stock.
• 4/12/2024 – Marvell Technology was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 4/12/2024 – Marvell Technology had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $85.00 price target on the stock.
• 4/12/2024 – Marvell Technology had its “buy” rating reaffirmed by analysts at Roth Mkm. They now have a $95.00 price target on the stock.
• 4/12/2024 – Marvell Technology had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $86.00 price target on the stock.
• 4/12/2024 – Marvell Technology had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $95.00 price target on the stock.
• 4/8/2024 – Marvell Technology had its price target lowered by analysts at KeyCorp from $95.00 to $90.00. They now have an “overweight” rating on the stock.
• 4/4/2024 – Marvell Technology was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 3/27/2024 – Marvell Technology had its “buy” rating reaffirmed by analysts at Citigroup Inc.. They now have a $91.00 price target on the stock.
• 3/21/2024 – Marvell Technology was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 3/11/2024 – Marvell Technology was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 3/8/2024 – Marvell Technology had its price target raised by analysts at TD Cowen from $75.00 to $90.00. They now have an “outperform” rating on the stock.
• 3/8/2024 – Marvell Technology was upgraded by analysts at Summit Insights from a “hold” rating to a “buy” rating.
• 3/7/2024 – Marvell Technology had its price target raised by analysts at Morgan Stanley from $63.00 to $84.00. They now have an “equal weight” rating on the stock.
• 3/4/2024 – Marvell Technology had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $100.00 price target on the stock.
• 3/4/2024 – Marvell Technology had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $95.00 price target on the stock, up previously from $85.00.
• 2/29/2024 – Marvell Technology had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $80.00 price target on the stock, up previously from $70.00.
• 2/26/2024 – Marvell Technology had its price target raised by analysts at UBS Group AG from $70.00 to $83.00. They now have a “buy” rating on the stock.

Marvell Technology Stock Down 1.9 %

Shares of NASDAQ MRVL opened at $65.24 on Friday. Marvell Technology, Inc. has a one year low of $36.90 and a one year high of $85.76. 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’s fifty day moving average price is $70.25 and its 200-day moving average price is $62.15. The stock has a market capitalization of $56.50 billion, a PE ratio of -60.41, a P/E/G ratio of 4.99 and a beta of 1.50.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings data 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 business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 EPS. On average, equities research analysts anticipate that Marvell Technology, Inc. will post 0.72 EPS for the current year.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 12th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.37%. Marvell Technology’s dividend payout ratio (DPR) is presently -22.22%.

Insider Buying and Selling

In related news, CEO Matthew J. Murphy sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $68.82, for a total transaction of $2,064,600.00. Following the transaction, the chief executive officer now directly owns 716,545 shares in the company, valued at approximately $49,312,626.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $68.20, for a total transaction of $68,200.00. Following the transaction, the chief financial officer now directly owns 103,986 shares in the company, valued at approximately $7,091,845.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 716,545 shares of the company’s stock, valued at approximately $49,312,626.90. The disclosure for this sale can be found here. Insiders have sold a total of 108,000 shares of company stock worth $7,315,640 in the last ninety days. 0.45% of the stock is owned by insiders.

Institutional Investors Weigh In On Marvell Technology

Several institutional investors and hedge funds have recently bought and sold shares of MRVL. Moneta Group Investment Advisors LLC lifted its holdings in Marvell Technology by 118,898.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 62,452,538 shares of the semiconductor company’s stock worth $2,313,242,000 after buying an additional 62,400,056 shares during the period. Norges Bank purchased a new position in shares of Marvell Technology in the 4th quarter valued at approximately $511,215,000. Matrix Capital Management Company LP lifted its stake in shares of Marvell Technology by 54.3% in the 3rd quarter. Matrix Capital Management Company LP now owns 13,166,824 shares of the semiconductor company’s stock valued at $712,720,000 after purchasing an additional 4,634,127 shares during the period. Brown Advisory Inc. lifted its stake in shares of Marvell Technology by 25.9% in the 4th quarter. Brown Advisory Inc. now owns 14,764,957 shares of the semiconductor company’s stock valued at $890,475,000 after purchasing an additional 3,036,495 shares during the period. Finally, Aspex Management HK Ltd lifted its stake in shares of Marvell Technology by 103.8% in the 4th quarter. Aspex Management HK Ltd now owns 5,712,564 shares of the semiconductor company’s stock valued at $344,525,000 after purchasing an additional 2,908,912 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

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.