Marvell Technology (NASDAQ:MRVL) Downgraded to Sell at StockNews.com

StockNews.com cut shares of Marvell Technology (NASDAQ:MRVL) from a hold rating to a sell rating in a research report released on Wednesday morning.

A number of other equities analysts have also recently issued reports on MRVL. Rosenblatt Securities increased their price objective on shares of Marvell Technology from $100.00 to $120.00 and gave the stock a buy rating in a research report on Friday, August 30th. TD Cowen upgraded Marvell Technology to a strong-buy rating in a report on Monday, September 16th. Cantor Fitzgerald reiterated an overweight rating and issued a $85.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Roth Mkm reissued a buy rating and issued a $95.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. Finally, KeyCorp upped their price objective on shares of Marvell Technology from $90.00 to $95.00 and gave the stock an overweight rating in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $91.62.

Marvell Technology Trading Up 1.6 %

NASDAQ MRVL opened at $73.41 on Wednesday. The stock has a market capitalization of $63.54 billion, a P/E ratio of -64.96, a P/E/G ratio of 3.12 and a beta of 1.45. The business has a 50 day simple moving average of $68.91 and a 200 day simple moving average of $69.71. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. Marvell Technology has a one year low of $46.07 and a one year high of $85.76.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 EPS. Research analysts expect that Marvell Technology will post 0.78 earnings per share for the current year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Insiders Place Their Bets

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $73.88, for a total value of $110,820.00. Following the sale, the chief financial officer now owns 109,318 shares of the company’s stock, valued at approximately $8,076,413.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total value of $177,075.00. Following the sale, the executive vice president now directly owns 22,494 shares in the company, valued at approximately $1,593,250.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $73.88, for a total transaction of $110,820.00. Following the transaction, the chief financial officer now owns 109,318 shares of the company’s stock, valued at $8,076,413.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 160,000 shares of company stock valued at $11,880,685. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bruce G. Allen Investments LLC raised its holdings in Marvell Technology by 56.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 141 shares during the period. Salomon & Ludwin LLC bought a new stake in shares of Marvell Technology during the 1st quarter valued at $31,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Marvell Technology during the 2nd quarter valued at $32,000. Quarry LP bought a new position in Marvell Technology in the 2nd quarter worth about $32,000. Finally, Optimum Investment Advisors bought a new position in Marvell Technology in the 1st quarter worth about $35,000. 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.