StockNews.com Downgrades Marvell Technology (NASDAQ:MRVL) to Sell

Marvell Technology (NASDAQ:MRVL) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

MRVL has been the subject of a number of other research reports. Roth Mkm reiterated a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Piper Sandler restated an “overweight” rating and issued a $100.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Needham & Company LLC reissued a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Morgan Stanley raised their price objective on shares of Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $95.00 price objective (up previously from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $91.62.

Marvell Technology Stock Up 2.5 %

NASDAQ:MRVL traded up $1.73 during trading hours on Wednesday, hitting $72.04. 10,872,022 shares of the company’s stock traded hands, compared to its average volume of 12,464,416. The firm has a market cap of $62.36 billion, a P/E ratio of -63.75, a P/E/G ratio of 3.12 and a beta of 1.46. Marvell Technology has a twelve month low of $46.07 and a twelve month high of $85.76. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The stock’s fifty day moving average price is $68.43 and its two-hundred day moving average price is $69.60.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The business’s revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 EPS. On average, research analysts expect that Marvell Technology will post 0.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Marvell Technology news, insider Muhammad Raghib Hussain sold 50,000 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the sale, the insider now directly owns 838,571 shares of the company’s stock, valued at $62,892,825. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $75.00, for a total value of $3,750,000.00. Following the sale, the insider now directly owns 838,571 shares of the company’s stock, valued at $62,892,825. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ford Tamer sold 92,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the completion of the sale, the director now directly owns 351,193 shares in the company, valued at $26,044,472.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 160,000 shares of company stock valued at $11,880,685. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Marvell Technology

Several institutional investors and hedge funds have recently modified their holdings of the stock. Tlwm increased its holdings in shares of Marvell Technology by 1.6% during the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock valued at $601,000 after acquiring an additional 136 shares in the last quarter. Bruce G. Allen Investments LLC increased its holdings in shares of Marvell Technology by 56.4% during the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 141 shares in the last quarter. Trueblood Wealth Management LLC increased its holdings in shares of Marvell Technology by 3.2% during the first quarter. Trueblood Wealth Management LLC now owns 4,944 shares of the semiconductor company’s stock valued at $350,000 after acquiring an additional 152 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its holdings in shares of Marvell Technology by 0.4% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock valued at $3,143,000 after acquiring an additional 168 shares in the last quarter. Finally, Pathway Financial Advisers LLC increased its holdings in Marvell Technology by 1.2% in the 2nd quarter. Pathway Financial Advisers LLC now owns 14,601 shares of the semiconductor company’s stock worth $1,019,000 after buying an additional 169 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

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.