Marvell Technology (NASDAQ: MRVL – Get Assessment) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note released Friday.
Other equity analysts have also recently released research reports on the company. Needham & Company LLC reduced Marvell Technology’s target price from $ 105.00 to $ 75.00 in a report on Friday, May 27. Deutsche Bank Aktiengesellschaft reduced Marvell Technology’s target price from $ 80.00 to $ 75.00 in a report on Friday, May 27. Piper Sandler reduced her price target on Marvell Technology from $ 100.00 to $ 80.00 in a report on Friday, March 4. Susquehanna Bancshares reduced her price target on Marvell Technology from $ 105.00 to $ 90.00 and set a “positive” score for the company in a report on Wednesday, May 25. Finally, B. Riley reduced her price target on Marvell Technology from $ 95.00 to $ 72.00 in a report on Monday, May 23. A stock research analyst rated the stock with a sell rating, three assigned a hold rating, and twenty-six assigned a buy rating to the company’s stock. According to MarketBeat, Marvell Technology currently has a consensus rating of “Buy” and a consensus price target of $ 88.12.
Shares of the NASDAQ MRVL fell $ 3.41 during mid-day trading on Friday, reaching $ 53.07. The company had a trading volume of 12,026,494 shares, compared to its average volume of 11,060,926. The company has a market capitalization of $ 45.10 billion, a PE ratio of -87.00, a price-earnings-growth ratio of 1.95 and a beta of 1.27. The company has a 50-day simple moving average of $ 59.18 and a two-hundred-day simple moving average of $ 69.87. The company has a current ratio of 1.67, a quick ratio of 1.13, and a debt-to-equity ratio of 0.29. Marvell Technology has a one-year low of $ 50.41 and a one-year high of $ 93.85.
Marvell Technology (NASDAQ: MRVL – Get Rating) last announced its quarterly earnings data on Thursday, May 26. The semiconductor company posted earnings per share of $ 0.52 for the quarter, beating the $ 0.51 consensus estimate by $ 0.01. Marvell Technology reported a positive return on equity of 6.92% and a negative net margin of 9.82%. The company reported revenue of $ 1.45 billion during the quarter, compared to analysts’ expectations of $ 1.43 billion. During the same quarter last year, the company earned $ 0.15 EPS. Marvell Technology’s revenue for the quarter was up 73.8% from the same quarter last year. Sell-side analysts expect Marvell Technology to post 1.7 earnings per share for the current fiscal year.
In other news from Marvell Technology, EVP Loi Nguyen sold 1,512 shares of the company in a transaction on Thursday, June 2. The shares were sold at an average price of $ 60.00, for a total transaction of $ 90,720.00. After the sale, the executive vice president now owns 207,727 shares in the company, valued at $ 12,463,620. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Additionally, Ford director Tamer sold 48,051 company shares in a transaction on Tuesday, April 5. The stock sold at an average price of $ 71.61, for a total transaction of $ 3,440,932.11. Following the sale, the director now directly owns 331,083 shares in the company, valued at approximately $ 23,708,853.63. The information for this sale can be found here. In the past ninety days, insiders have sold 231,216 shares in the company for a value of $ 14,891,753. Insiders own 0.45% of the company’s shares.
Several institutional investors have recently changed their holdings in the stock. BlackRock Inc. increased its stake in Marvell Technology by 3.4% in the fourth quarter. BlackRock Inc. now owns 70,754,622 shares of the semiconductor company worth $ 6,190,323,000 after purchasing an additional 2,305,751 shares in the last quarter. Vanguard Group Inc. increased its stake in Marvell Technology by 2.9% in the first quarter. Vanguard Group Inc. now owns 64,581,244 shares of the semiconductor company worth $ 4,631,120,000 after purchasing an additional 1,847,159 shares in the last quarter. Wellington Management Group LLP increased its stake in Marvell Technology by 15.7% in the third quarter. Wellington Management Group LLP now owns 16,843,799 shares of the semiconductor company worth $ 2,764,839,000 after purchasing an additional 6,222,814 shares in the last quarter. State Street Corp increased its stake in Marvell Technology by 0.9% in the first quarter. State Street Corp now owns 18,632,316 shares of the semiconductor company worth $ 1,336,123,000 after purchasing an additional 174,753 shares during the last quarter. Finally, Brown Advisory Inc. increased its stake in Marvell Technology by 20.7% in the fourth quarter. Brown Advisory Inc. now owns 12,746,528 shares of the semiconductor company worth $ 1,115,193,000 after purchasing an additional 2,188,891 shares in the last quarter. 83.11% of the stock is currently held by institutional investors.
Marvell Technology Company Profile (Get evaluation)
Marvell Technology, Inc, together with its subsidiaries, designs, develops and sells analog, mixed-signal, digital signal processing and integrated and standalone integrated circuits. Offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers and switches; single or multiple core processors; ASIC; and System-on-a-Chip printers and application processors.
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