Marvell Technology (NASDAQ:MRVL) Stock Rating Lowered by StockNews.com

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

Several other equities analysts have also recently issued reports on MRVL. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a report on Friday, April 12th. Citigroup restated a “buy” rating and set a $91.00 target price on shares of Marvell Technology in a report on Wednesday, March 27th. UBS Group increased their price target on shares of Marvell Technology from $70.00 to $83.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price objective on shares of Marvell Technology in a research report on Friday, April 12th. Finally, Roth Mkm reiterated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.13.

Marvell Technology Trading Down 1.2 %

Shares of Marvell Technology stock opened at $68.75 on Friday. 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 has a market capitalization of $59.54 billion, a P/E ratio of -64.46, a PEG ratio of 5.09 and a beta of 1.50. Marvell Technology has a 1 year low of $38.63 and a 1 year high of $85.76. The company’s fifty day moving average is $69.87 and its two-hundred day moving average is $62.73.

Marvell Technology (NASDAQ:MRVL) last released its quarterly 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. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the company posted $0.34 earnings per share. The business’s revenue was up .6% on a year-over-year basis. Analysts forecast that Marvell Technology will post 0.72 earnings per share for the current year.

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

Insiders Place Their Bets

In other news, CEO Matthew J. Murphy sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $67.67, for a total transaction of $2,030,100.00. Following the completion of the sale, the chief executive officer now owns 762,929 shares of the company’s stock, valued at $51,627,405.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the 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 owns 103,986 shares of the company’s stock, valued at approximately $7,091,845.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 762,929 shares of the company’s stock, valued at $51,627,405.43. The disclosure for this sale can be found here. Insiders have sold 110,500 shares of company stock worth $7,477,515 in the last three months. 0.45% of the stock is owned by insiders.

Hedge Funds Weigh In On Marvell Technology

A number of hedge funds have recently added to or reduced their stakes in MRVL. Bruce G. Allen Investments LLC boosted its position in Marvell Technology by 56.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 141 shares during the period. SJS Investment Consulting Inc. raised its position in shares of 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 buying an additional 155 shares in the last quarter. Buck Wealth Strategies LLC boosted its holdings in shares of Marvell Technology by 1,328.1% in the third quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 425 shares in the last quarter. Optimum Investment Advisors acquired a new position in shares of Marvell Technology during the first quarter valued at approximately $35,000. Finally, Oliver Lagore Vanvalin Investment Group increased its stake in shares of Marvell Technology by 46.2% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 165 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.