Marvell Technology (NASDAQ:MRVL) Coverage Initiated by Analysts at Loop Capital

Investment analysts at Loop Capital started coverage on shares of Marvell Technology (NASDAQ:MRVL) in a research note issued to investors on Monday, Marketbeat reports. The firm set a “hold” rating and a $95.00 price target on the semiconductor company’s stock. Loop Capital’s price objective indicates a potential upside of 2.39% from the company’s previous close.

Other research analysts have also issued reports about the company. Morgan Stanley raised their price target on Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. Citigroup restated a “buy” rating and set a $91.00 target price on shares of Marvell Technology in a report on Monday, October 14th. StockNews.com cut Marvell Technology from a “hold” rating to a “sell” rating in a research note on Friday, October 18th. Rosenblatt Securities lifted their price objective on shares of Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Bank of America upped their target price on shares of Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.77.

Marvell Technology Price Performance

Marvell Technology stock opened at $92.78 on Monday. The business’s 50-day simple moving average is $77.65 and its 200 day simple moving average is $72.31. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The stock has a market cap of $82.22 billion, a price-to-earnings ratio of -83.59, a P/E/G ratio of 4.08 and a beta of 1.44. Marvell Technology has a 12-month low of $50.35 and a 12-month high of $95.09.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting the consensus estimate 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 company earned $0.18 EPS. Marvell Technology’s revenue was down 5.1% on a year-over-year basis. As a group, research analysts anticipate that Marvell Technology will post 0.78 earnings per share for the current year.

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the transaction, the chief financial officer now owns 113,253 shares of the company’s stock, valued at $7,559,637.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total transaction of $177,075.00. Following the transaction, the executive vice president now directly owns 22,494 shares in the company, valued at $1,593,250.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the sale, the chief financial officer now owns 113,253 shares of the company’s stock, valued at $7,559,637.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 261,000 shares of company stock valued at $20,330,835. Insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Several institutional investors and hedge funds have recently bought and sold shares of MRVL. Citizens Financial Group Inc. RI increased its holdings in shares of Marvell Technology by 1.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after acquiring an additional 116 shares during the last quarter. Crumly & Associates Inc. increased its holdings in shares of Marvell Technology by 1.5% in the third quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock valued at $593,000 after purchasing an additional 121 shares during the last quarter. United Capital Management of KS Inc. raised its position in shares of Marvell Technology by 0.4% in the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after purchasing an additional 131 shares during the period. Tlwm lifted its stake in shares of Marvell Technology by 1.6% during the 2nd quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after buying an additional 136 shares during the last quarter. Finally, ASB Consultores LLC boosted its holdings in shares of Marvell Technology by 3.8% during the 3rd quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock worth $276,000 after buying an additional 140 shares during the period. Institutional investors 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.