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

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

MRVL has been the topic of several other research reports. The Goldman Sachs Group lifted their price objective on Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. Evercore ISI increased their price objective on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Citigroup restated a “buy” rating and issued a $91.00 target price on shares of Marvell Technology in a report on Monday, October 14th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $95.00 price target (up from $90.00) on shares of Marvell Technology in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, one has given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.62.

Marvell Technology Stock Up 2.5 %

Shares of NASDAQ MRVL opened at $81.83 on Friday. The stock has a market capitalization of $70.83 billion, a P/E ratio of -72.42, a PEG ratio of 3.17 and a beta of 1.45. Marvell Technology has a one year low of $46.07 and a one year high of $85.76. The firm’s 50 day simple moving average is $72.42 and its two-hundred day simple moving average is $70.26. 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 (NASDAQ:MRVL) last released its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 EPS. As a group, analysts expect that Marvell Technology will post 0.78 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Friday, October 11th. Marvell Technology’s payout ratio is presently -21.24%.

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total value of $100,125.00. Following the completion of the transaction, the chief financial officer now owns 113,253 shares in the company, valued at approximately $7,559,637.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total value of $100,125.00. Following the sale, the chief financial officer now directly owns 113,253 shares of the company’s stock, valued at $7,559,637.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology 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 completion of the transaction, the executive vice president now directly owns 22,494 shares of the company’s stock, valued at approximately $1,593,250.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,000 shares of company stock worth $19,846,215 over the last ninety days. 0.33% of the stock is owned by corporate insiders.

Institutional Trading of Marvell Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Salomon & Ludwin LLC bought a new stake in shares of Marvell Technology in the first quarter worth approximately $31,000. Strategic Investment Solutions Inc. IL bought a new stake in Marvell Technology in the 2nd quarter worth approximately $32,000. Quarry LP purchased a new stake in Marvell Technology during the 2nd quarter valued at $32,000. Optimum Investment Advisors purchased a new stake in Marvell Technology during the 1st quarter valued at $35,000. Finally, Mark Sheptoff Financial Planning LLC bought a new position in shares of Marvell Technology during the 1st quarter valued at $35,000. Institutional investors own 83.51% of the company’s stock.

About Marvell Technology

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.