Marvell Technology (NASDAQ:MRVL) Raised to “Hold” at StockNews.com

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

A number of other equities analysts have also weighed in on the company. Loop Capital assumed coverage on Marvell Technology in a research note on Monday, November 11th. They issued a “hold” rating and a $95.00 target price on the stock. Roth Mkm reiterated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Stifel Nicolaus reiterated a “buy” rating and set a $95.00 price objective (up from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Needham & Company LLC reiterated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research report 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 report on Friday, August 30th. Three analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $91.77.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $92.51 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. Marvell Technology has a 52-week low of $50.35 and a 52-week high of $95.09. The firm has a market cap of $81.98 billion, a price-to-earnings ratio of -83.34, a PEG ratio of 4.04 and a beta of 1.44. The business’s fifty day moving average is $80.67 and its 200 day moving average is $73.51.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data 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 positive return on equity of 4.31% and a negative net margin of 18.30%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the company posted $0.18 EPS. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. Research analysts predict that Marvell Technology will post 0.78 EPS for the current year.

Insiders Place Their Bets

In other news, insider Muhammad Raghib Hussain sold 150,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the transaction, the insider now owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. This represents a 17.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew J. Murphy sold 6,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $73.29, for a total value of $439,740.00. Following the completion of the transaction, the chief executive officer now directly owns 208,915 shares of the company’s stock, valued at $15,311,380.35. This represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 267,000 shares of company stock worth $20,899,260. 0.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MRVL. True Wealth Design LLC increased its position in Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 326 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Marvell Technology during the 2nd quarter valued at approximately $32,000. Quarry LP bought a new position in Marvell Technology during the 2nd quarter valued at approximately $32,000. Whittier Trust Co. increased its position in Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 210 shares in the last quarter. Finally, Goodman Advisory Group LLC bought a new position in Marvell Technology during the 3rd quarter valued at approximately $37,000. 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.