Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) has earned a consensus rating of “Moderate Buy” from the thirty-two analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $81.93.
MRVL has been the subject of several research reports. Cowen lowered their price objective on shares of Marvell Technology from $100.00 to $85.00 in a research report on Friday, May 27th. Citigroup reduced their target price on shares of Marvell Technology from $78.00 to $74.00 and set a “buy” rating for the company in a report on Monday, August 29th. UBS Group reduced their target price on shares of Marvell Technology from $95.00 to $80.00 and set a “buy” rating for the company in a report on Monday, May 23rd. Wells Fargo & Company reduced their target price on shares of Marvell Technology from $65.00 to $58.00 and set an “equal weight” rating for the company in a report on Friday, August 26th. Finally, Raymond James reiterated a “buy” rating and issued a $80.00 price target on shares of Marvell Technology in a research note on Friday, May 27th.
Insider Buying and Selling
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In related news, EVP Dan Christman sold 14,000 shares of Marvell Technology stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $57.28, for a total transaction of $801,920.00. Following the sale, the executive vice president now directly owns 92,203 shares in the company, valued at approximately $5,281,387.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Dan Christman sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $57.28, for a total value of $801,920.00. Following the transaction, the executive vice president now owns 92,203 shares in the company, valued at approximately $5,281,387.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mitchell Gaynor sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $47.67, for a total transaction of $238,350.00. Following the completion of the transaction, the executive vice president now owns 115,563 shares in the company, valued at approximately $5,508,888.21. The disclosure for this sale can be found here. Insiders have sold a total of 24,000 shares of company stock worth $1,284,270 in the last ninety days. Company insiders own 0.45% of the company’s stock.
Institutional Trading of Marvell Technology
Several hedge funds have recently modified their holdings of the stock. FMR LLC increased its stake in shares of Marvell Technology by 3.0% in the 2nd quarter. FMR LLC now owns 124,827,357 shares of the semiconductor company’s stock valued at $5,433,736,000 after acquiring an additional 3,663,148 shares in the last quarter. BlackRock Inc. increased its stake in Marvell Technology by 3.4% during the 4th quarter. BlackRock Inc. now owns 70,754,622 shares of the semiconductor company’s stock valued at $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% during the 1st quarter. Vanguard Group Inc. now owns 64,581,244 shares of the semiconductor company’s stock valued at $4,631,120,000 after purchasing an additional 1,847,159 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Marvell Technology by 16.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 36,482,866 shares of the semiconductor company’s stock valued at $1,588,099,000 after purchasing an additional 5,070,739 shares in the last quarter. Finally, State Street Corp increased its stake in Marvell Technology by 0.9% during the 1st quarter. State Street Corp now owns 18,632,316 shares of the semiconductor company’s stock valued at $1,336,123,000 after purchasing an additional 174,753 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.
Marvell Technology Stock Up 3.7 %
Shares of NASDAQ:MRVL opened at $46.76 on Thursday. Marvell Technology has a 52 week low of $41.07 and a 52 week high of $93.85. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.93 and a current ratio of 1.35. The company has a market capitalization of $39.87 billion, a PE ratio of -179.85, a PEG ratio of 1.86 and a beta of 1.51. The company has a 50 day moving average price of $50.45 and a two-hundred day moving average price of $57.00.
Marvell Technology (NASDAQ:MRVL – Get Rating) last issued its earnings results on Thursday, August 25th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. Marvell Technology had a negative net margin of 3.95% and a positive return on equity of 7.94%. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The business’s quarterly revenue was up 41.0% on a year-over-year basis. Analysts forecast that Marvell Technology will post 1.61 earnings per share for the current year.
Marvell Technology Company Profile
Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors.
Further Reading
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