Marvell Technology (NASDAQ:MRVL) Upgraded 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 note issued on Wednesday.

A number of other equities research analysts also recently weighed in on the stock. Benchmark lifted their price target on shares of Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 30th. KeyCorp lifted their price objective on Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Needham & Company LLC reissued a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Morgan Stanley boosted their price target on Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Two investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.62.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $72.77 on Wednesday. The stock has a 50 day simple moving average of $68.23 and a 200 day simple moving average of $69.80. The stock has a market cap of $62.99 billion, a P/E ratio of -64.40, a PEG ratio of 3.29 and a beta of 1.46. Marvell Technology has a 1-year low of $46.07 and a 1-year high of $85.76. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the business posted $0.18 earnings per share. Marvell Technology’s quarterly revenue was down 5.1% on a year-over-year basis. Research analysts anticipate that Marvell Technology will post 0.77 earnings per share for the current year.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, Director Daniel Durn purchased 1,425 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were bought at an average price of $70.21 per share, for a total transaction of $100,049.25. Following the completion of the acquisition, the director now owns 1,923 shares in the company, valued at $135,013.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Daniel Durn acquired 1,425 shares of the stock in a transaction dated Monday, June 24th. The stock was bought at an average cost of $70.21 per share, for a total transaction of $100,049.25. Following the completion of the transaction, the director now directly owns 1,923 shares of the company’s stock, valued at $135,013.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $70.07, for a total value of $175,175.00. Following the completion of the sale, the executive vice president now owns 20,450 shares in the company, valued at $1,432,931.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,000 shares of company stock worth $11,878,785. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Marvell Technology

Several hedge funds and other institutional investors have recently bought and sold shares of MRVL. Tlwm raised its position in shares of Marvell Technology by 1.6% in the 2nd quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after acquiring an additional 136 shares in the last quarter. Bruce G. Allen Investments LLC increased its holdings in 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 in the last quarter. Trueblood Wealth Management LLC increased its holdings in Marvell Technology by 3.2% in the first quarter. Trueblood Wealth Management LLC now owns 4,944 shares of the semiconductor company’s stock worth $350,000 after purchasing an additional 152 shares in the last quarter. Edmond DE Rothschild Holding S.A. lifted its stake in Marvell Technology by 0.5% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 30,764 shares of the semiconductor company’s stock valued at $1,855,000 after buying an additional 162 shares during the period. Finally, Sheaff Brock Investment Advisors LLC grew its position in shares of Marvell Technology by 0.4% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock worth $3,143,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

About Marvell Technology

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.