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

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

Other equities analysts have also issued reports about the company. Evercore ISI assumed coverage on Marvell Technology in a research report on Tuesday, April 16th. They set an outperform rating and a $88.00 price target on the stock. Morgan Stanley upped their target price on shares of Marvell Technology from $63.00 to $84.00 and gave the company an equal weight rating in a research note on Thursday, March 7th. 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. Cantor Fitzgerald reiterated an overweight rating and issued a $85.00 price objective on shares of Marvell Technology in a report on Friday, April 12th. Finally, Citigroup restated a buy rating and set a $91.00 target price on shares of Marvell Technology in a research note on Wednesday, March 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $81.13.

Marvell Technology Trading Down 3.2 %

NASDAQ MRVL opened at $63.82 on Friday. The firm has a market capitalization of $55.27 billion, a price-to-earnings ratio of -59.09, a PEG ratio of 5.03 and a beta of 1.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69. Marvell Technology has a one year low of $38.63 and a one year high of $85.76. The company’s 50 day moving average price is $69.90 and its 200 day moving average price is $62.93.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. On average, sell-side analysts predict that Marvell Technology will post 0.72 EPS for the current year.

Marvell Technology declared that its board has approved a stock repurchase program on Thursday, March 7th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the semiconductor company to buy up to 4.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Marvell Technology Announces Dividend

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

Insider Buying and Selling

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

Institutional Trading of Marvell Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC grew its holdings in Marvell Technology by 0.3% during the third quarter. FMR LLC now owns 129,418,936 shares of the semiconductor company’s stock worth $7,005,447,000 after acquiring an additional 421,622 shares during the period. Vanguard Group Inc. grew 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 during the last quarter. Capital Research Global Investors raised its holdings in shares of 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 in the last quarter. Matrix Capital Management Company LP lifted its stake 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 during the last quarter. Finally, Brown Advisory Inc. boosted its holdings in Marvell Technology by 25.9% during 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.