Marvell Technology (NASDAQ:MRVL) Lowered to “Sell” at StockNews.com

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

MRVL has been the topic of several other research reports. The Goldman Sachs Group lifted their target price on Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, August 30th. KeyCorp raised their target price on Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Morgan Stanley upped their price target on Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, August 30th. Roth Mkm reissued a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $100.00 target price 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.62.

Marvell Technology Stock Performance

MRVL opened at $79.85 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The firm has a market cap of $69.12 billion, a PE ratio of -70.66, a P/E/G ratio of 3.17 and a beta of 1.45. The business has a fifty day simple moving average of $71.99 and a 200-day simple moving average of $70.23. Marvell Technology has a fifty-two week low of $46.07 and a fifty-two week high of $85.76.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. Marvell Technology’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the company posted $0.18 EPS. As a group, equities analysts predict that Marvell Technology will post 0.78 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be paid a $0.06 dividend. The ex-dividend date is Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.30%. Marvell Technology’s payout ratio is -21.24%.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the transaction, the chief financial officer now directly owns 113,253 shares of the company’s stock, valued at approximately $7,559,637.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Willem A. Meintjes sold 1,500 shares of the company’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 in the company, valued at approximately $7,559,637.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the transaction, the insider now owns 694,487 shares of the company’s stock, valued at $55,906,203.50. This trade 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 90 days. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Salomon & Ludwin LLC acquired a new stake in Marvell Technology during the 1st quarter valued at $31,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Marvell Technology in the second quarter valued at $32,000. Quarry LP acquired a new stake in shares of Marvell Technology in the second quarter valued at $32,000. Optimum Investment Advisors bought a new position in shares of Marvell Technology in the first quarter valued at about $35,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in Marvell Technology during the 1st quarter worth about $35,000. 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.