Marvell Technology (NASDAQ:MRVL – Get the Free Report) Equities research analysts at Summit Insights upgraded the stock from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, MarketBeat.com reported.
MRVL has been the subject of many other research reports. Barclays increased their target price on shares of Marvell Technology from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Piper Sandler lowered their target price on shares of Marvell Technology from $75.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, December 1st. Cantor Fitzgerald initiated coverage on Marvell Technologies stock in a report on Tuesday, January 23rd. They gave the company an “overweight” rating and set a price target of $80.00. Oppenheimer restated an “outperform” rating on shares of Marvell Technology in a report on Thursday, February 29th and set a price target of $80.00 (up from $70.00). Finally, Susquehanna lowered their target price on shares of Marvell Technology from $70.00 to $65.00 and gave the company a “positive” rating in a report on Friday, December 1st. 2 equity research analysts have rated the stock as a hold and 19 have rated it a buy. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.08.
Read the latest stock analysis for Marvell Technology
Marvell Technology stock falls 11.4%
MRVL stock opened Friday at $75.42. The company's 50-day moving average price is $68.34 and its 200-day moving average price is $59.34. The stock has a market capitalization of $65.2 billion, a P/E ratio of -69.83, a price-to-earnings ratio of 7.37x, and a beta of 1.51x. Marvell Technology has a 12-month low of $36.64 and a 12-month high of $85.76. The company has a current ratio of 1.58, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27.
Marvell Technology (NASDAQ:MRVL – Get Free Report) last released its quarterly earnings data on Thursday, March 7th. The company reported earnings per share (EPS) of $0.46 for the quarter, meeting analysts' consensus estimates of $0.46. The business had revenue of $1.43 billion in the quarter, compared to analyst estimates of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.92%. The company's quarterly revenue increased 0.6% year over year. His EPS for the same business in the same period last year was $0.34. As a group, equity research analysts expect Marvell Technology to post 1.29 EPS for the current fiscal year.
Insider activity at Marvell Technology
In related news, CFO Willem A. Meintjes sold 4,000 shares of Marvell Technology stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $60.01, for a total value of $240,040.00. Following the completion of the sale, the chief financial officer now owns 100,730 shares of the company's stock, valued at approximately $6,044,807.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed on the SEC's website. In related news, CFO Willem A. Meintjes sold 4,000 shares of Marvell Technology stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $60.01, for a total value of $240,040.00. Following the completion of the sale, the chief financial officer now owns 100,730 shares of the company's stock, valued at approximately $6,044,807.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed on the SEC's website. Also, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $59.00, for a total transaction of $1,770,000. Following the transaction, the CEO now directly owns 809,287 shares of the company's stock, valued at $47,747,933. Disclosures regarding this sale can be found here. In the last 90 days, insiders have sold 201,000 shares of company stock, valued at $12,506,090. 0.45% of the stock is owned by company insiders.
Hedge funds take notice of Marvell Technology
Hedge funds have recently bought and sold shares of the company. West Tower Group LLC bought a new position in Marvell Technology in the 2nd quarter valued at $25,000. Buck Wealth Strategies LLC grew its holdings in shares of Marvell Technology by 1,328.1% in the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the company's stock valued at $25,000 after acquiring an additional 425 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in shares of Marvell Technology by 216.2% in the 2nd quarter. SRS Capital Advisors Inc. now owns 411 shares of the company's stock valued at $25,000 after acquiring an additional 281 shares during the last quarter. SJS Investment Consulting Inc. increased its holdings in shares of Marvell Technology by 56.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the company's stock valued at $26,000 after acquiring an additional 155 shares during the last quarter. Finally, Resurgent Financial Advisors LLC purchased a new position in Marvell Technology during the 4th quarter valued at $28,000. 83.32% of the stock is owned by hedge funds and other institutional investors.
Marvell Technology Company Profile
(Get Free Report)
Marvell Technology, Inc works with its subsidiaries to provide data infrastructure semiconductor solutions from the data center core to the network edge. The company develops and extends complex system-on-chip architectures that integrate analog, mixed-signal, and digital signal processing capabilities.
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