Marvell Technology (NASDAQ:MRVL) Lifted to Hold at StockNews.com

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

Several other brokerages have also weighed in on MRVL. Evercore ISI assumed coverage on Marvell Technology in a report on Tuesday, April 16th. They set an “outperform” rating and a $88.00 price objective on the stock. Citigroup reaffirmed a “buy” rating and set a $91.00 price objective on shares of Marvell Technology in a report on Wednesday, March 27th. Roth Mkm reissued a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research note on Friday, April 12th. Oppenheimer restated an “outperform” rating and set a $80.00 price target (up previously from $70.00) on shares of Marvell Technology in a research note on Thursday, February 29th. Finally, Morgan Stanley upped their price objective on Marvell Technology from $63.00 to $84.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. Two investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus target price of $81.13.

Marvell Technology Stock Performance

Shares of Marvell Technology stock traded down $1.14 during trading on Tuesday, reaching $68.68. The company’s stock had a trading volume of 6,449,670 shares, compared to its average volume of 13,650,176. Marvell Technology has a one year low of $39.23 and a one year high of $85.76. 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 firm has a market cap of $59.48 billion, a price-to-earnings ratio of -63.59, a price-to-earnings-growth ratio of 5.01 and a beta of 1.48. The business’s fifty day moving average price is $69.87 and its 200-day moving average price is $63.48.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 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 company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the company earned $0.34 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities research analysts predict that Marvell Technology will post 0.72 earnings per share for the current year.

Marvell Technology announced that its board has approved a stock buyback plan on Thursday, March 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 4.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $64.49, for a total value of $64,490.00. Following the transaction, the chief financial officer now owns 110,218 shares in the company, valued at $7,107,958.82. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $64.49, for a total transaction of $64,490.00. Following the completion of the sale, the chief financial officer now directly owns 110,218 shares of the company’s stock, valued at $7,107,958.82. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction, the chief executive officer now directly owns 762,929 shares in the company, valued at $51,627,405.43. The disclosure for this sale can be found here. Insiders sold a total of 110,500 shares of company stock worth $7,473,805 over the last 90 days. 0.45% of the stock is owned by insiders.

Institutional Investors Weigh In On Marvell Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Buck Wealth Strategies LLC grew its position in shares of Marvell Technology by 1,328.1% during the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after buying an additional 425 shares during the period. SJS Investment Consulting Inc. grew its holdings in Marvell Technology by 56.8% during the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 155 shares during the period. Bruce G. Allen Investments LLC increased its stake 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 valued at $28,000 after purchasing an additional 141 shares in the last quarter. BluePath Capital Management LLC acquired a new stake in Marvell Technology in the third quarter worth $31,000. Finally, Oliver Lagore Vanvalin Investment Group boosted its position 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 worth $31,000 after purchasing an additional 165 shares in the last quarter. 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.