Marvell Technology (NASDAQ:MRVL) Downgraded by StockNews.com

StockNews.com downgraded shares of Marvell Technology (NASDAQ:MRVL) from a hold rating to a sell rating in a research note issued to investors on Sunday.

A number of other brokerages have also issued reports on MRVL. Needham & Company LLC reiterated a buy rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, April 12th. Oppenheimer reiterated an outperform rating and issued a $80.00 price objective (up from $70.00) on shares of Marvell Technology in a research report on Thursday, February 29th. Evercore ISI began coverage on Marvell Technology in a research note on Tuesday, April 16th. They issued an outperform rating and a $88.00 target price for the company. Roth Mkm reaffirmed a buy rating and set a $95.00 price target on shares of Marvell Technology in a research note on Friday, April 12th. Finally, Summit Insights upgraded Marvell Technology from a hold rating to a buy rating in a research report on Friday, March 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $81.13.

Marvell Technology Trading Down 3.2 %

MRVL stock opened at $63.82 on Friday. The business has a fifty day moving average price of $69.90 and a 200 day moving average price of $62.93. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.21. Marvell Technology has a fifty-two week low of $38.63 and a fifty-two week high of $85.76. The stock has a market capitalization of $55.27 billion, a price-to-earnings ratio of -59.09, a P/E/G ratio of 5.03 and a beta of 1.50.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $0.34 earnings per share. Analysts expect that Marvell Technology will post 0.72 EPS for the current fiscal year.

Marvell Technology announced that its board has approved a share buyback program on Thursday, March 7th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 4.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th were paid a $0.06 dividend. The ex-dividend date was Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.38%. Marvell Technology’s payout ratio is -22.22%.

Insider Activity

In related news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $67.98, for a total transaction of $339,900.00. Following the completion of the sale, the executive vice president now directly owns 119,117 shares of the company’s stock, valued at approximately $8,097,573.66. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $67.98, for a total value of $339,900.00. Following the sale, the executive vice president now directly owns 119,117 shares of the company’s stock, valued at approximately $8,097,573.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $67.79, for a total value of $67,790.00. Following the transaction, the chief financial officer now owns 102,986 shares of the company’s stock, valued at approximately $6,981,420.94. The disclosure for this sale can be found here. Insiders have sold 110,500 shares of company stock worth $7,473,805 in the last 90 days. Corporate insiders own 0.45% of the company’s stock.

Institutional Trading of Marvell Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in MRVL. Buck Wealth Strategies LLC boosted its holdings in Marvell Technology by 1,328.1% during the third quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 425 shares during the last quarter. SJS Investment Consulting Inc. lifted its position in Marvell Technology by 56.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after buying an additional 155 shares in the last quarter. Bruce G. Allen Investments LLC boosted its stake in shares of Marvell Technology by 56.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after buying an additional 141 shares during the last quarter. BluePath Capital Management LLC bought a new position in shares of Marvell Technology in the 3rd quarter valued at about $31,000. Finally, Oliver Lagore Vanvalin Investment Group increased its position in shares of Marvell Technology by 46.2% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 165 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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.