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

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

A number of other research analysts have also issued reports on MRVL. Benchmark restated a “buy” rating and issued a $135.00 target price (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Oppenheimer lifted their price objective on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group increased their target price on Marvell Technology from $87.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. UBS Group upped their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Rosenblatt Securities boosted their target price on shares of Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $119.76.

Marvell Technology Trading Up 4.1 %

Shares of MRVL stock opened at $118.18 on Wednesday. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $100.53 and a 200-day simple moving average of $81.20. The stock has a market cap of $102.26 billion, a P/E ratio of -69.52, a P/E/G ratio of 4.03 and a beta of 1.46.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.20%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Insider Buying and Selling at Marvell Technology

In other news, CEO Matthew J. Murphy acquired 13,000 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were bought at an average price of $77.63 per share, with a total value of $1,009,190.00. Following the purchase, the chief executive officer now owns 221,915 shares of the company’s stock, valued at approximately $17,227,261.45. This represents a 6.22 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the transaction, the executive vice president now directly owns 109,244 shares in the company, valued at approximately $8,823,637.88. The trade was a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 172,500 shares of company stock worth $14,267,670. 0.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MRVL. Citizens Financial Group Inc. RI raised its stake in shares of Marvell Technology by 1.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after purchasing an additional 116 shares in the last quarter. Crumly & Associates Inc. boosted its holdings in Marvell Technology by 1.5% in the third quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock worth $593,000 after purchasing an additional 121 shares in the last quarter. United Capital Management of KS Inc. increased its position in Marvell Technology by 0.4% during the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock worth $2,470,000 after buying an additional 131 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Marvell Technology by 1.4% in the third quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock worth $716,000 after buying an additional 139 shares during the last quarter. Finally, ASB Consultores LLC raised its stake in shares of Marvell Technology by 3.8% in the 3rd quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock valued at $276,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds 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.