Marvell Technology (NASDAQ:MRVL) Stock Rating Upgraded by StockNews.com

Marvell Technology (NASDAQ:MRVL) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

Other equities analysts have also recently issued research reports about the stock. Summit Insights upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. TD Cowen increased their price objective on Marvell Technology from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, March 8th. Oppenheimer reissued an “outperform” rating and set a $80.00 target price (up from $70.00) on shares of Marvell Technology in a research note on Thursday, February 29th. Roth Mkm reiterated a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a report on Friday, April 12th. Finally, Barclays upped their price objective on shares of Marvell Technology from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Two analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus price target of $81.13.

Marvell Technology Stock Down 0.8 %

MRVL opened at $68.11 on Tuesday. The company has a market cap of $58.98 billion, a P/E ratio of -63.06, a P/E/G ratio of 5.01 and a beta of 1.48. Marvell Technology has a 12 month low of $39.23 and a 12 month high of $85.76. The business’s 50-day moving average price is $69.88 and its 200-day moving average price is $63.51. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.27.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. On average, equities analysts expect that Marvell Technology will post 0.72 EPS for the current year.

Marvell Technology declared that its Board of Directors has authorized a share repurchase program on Thursday, March 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $67.98, for a total value of $339,900.00. Following the completion of the transaction, the executive vice president now owns 119,117 shares in the company, valued at $8,097,573.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $67.98, for a total transaction of $339,900.00. Following the completion of the transaction, the executive vice president now directly owns 119,117 shares of the company’s stock, valued at $8,097,573.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $67.67, for a total transaction of $2,030,100.00. Following the transaction, the chief executive officer now owns 762,929 shares in the company, valued at approximately $51,627,405.43. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,500 shares of company stock valued at $7,473,805. 0.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of Marvell Technology by 0.3% in the third quarter. FMR LLC now owns 129,418,936 shares of the semiconductor company’s stock worth $7,005,447,000 after buying an additional 421,622 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Marvell Technology by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 72,342,362 shares of the semiconductor company’s stock worth $4,362,968,000 after purchasing an additional 1,890,753 shares in the last quarter. Capital Research Global Investors raised its holdings in Marvell Technology by 0.5% in the 4th quarter. Capital Research Global Investors now owns 35,791,266 shares of the semiconductor company’s stock worth $2,158,601,000 after purchasing an additional 185,479 shares during the period. Matrix Capital Management Company LP lifted its position in Marvell Technology by 14.3% during the fourth quarter. Matrix Capital Management Company LP now owns 15,055,500 shares of the semiconductor company’s stock valued at $907,997,000 after purchasing an additional 1,888,676 shares in the last quarter. Finally, Brown Advisory Inc. increased its position in Marvell Technology by 25.9% in the fourth quarter. Brown Advisory Inc. now owns 14,764,957 shares of the semiconductor company’s stock worth $890,475,000 after buying an additional 3,036,495 shares in the last quarter. 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.