Marvell Technology’s (MRVL) Overweight Rating Reiterated at Cantor Fitzgerald

Marvell Technology (NASDAQ:MRVL)‘s stock had its “overweight” rating reissued by investment analysts at Cantor Fitzgerald in a research report issued on Friday, Benzinga reports. They currently have a $85.00 target price on the semiconductor company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 12.76% from the stock’s current price.

A number of other analysts have also commented on MRVL. Jefferies Financial Group started coverage on Marvell Technology in a report on Monday, May 13th. They set a “buy” rating and a $85.00 price objective for the company. Evercore ISI increased their price target on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday. Stifel Nicolaus reaffirmed a “buy” rating and set a $95.00 price objective (up from $90.00) on shares of Marvell Technology in a report on Friday. KeyCorp increased their target price on shares of Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Finally, Rosenblatt Securities restated a “buy” rating and set a $100.00 price target on shares of Marvell Technology in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $90.70.

Marvell Technology Stock Up 7.9 %

NASDAQ:MRVL traded up $5.54 on Friday, hitting $75.38. The stock had a trading volume of 16,472,518 shares, compared to its average volume of 12,485,328. The company has a market cap of $65.25 billion, a PE ratio of -66.25, a P/E/G ratio of 2.99 and a beta of 1.47. Marvell Technology has a 52 week low of $46.07 and a 52 week high of $85.76. The business’s fifty day moving average is $67.86 and its 200 day moving average is $69.42. The company has a quick ratio of 1.24, a current ratio of 1.80 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the business earned $0.18 EPS. Marvell Technology’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities research analysts expect that Marvell Technology will post 0.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total value of $100,125.00. Following the sale, the chief financial officer now owns 113,253 shares of the company’s stock, valued at $7,559,637.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 113,253 shares in the company, valued at $7,559,637.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $75.00, for a total value of $3,750,000.00. Following the sale, the insider now directly owns 838,571 shares in the company, valued at approximately $62,892,825. The disclosure for this sale can be found here. Insiders sold 65,500 shares of company stock worth $4,872,620 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bruce G. Allen Investments LLC increased its stake in Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 141 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in shares of Marvell Technology during the first quarter worth about $31,000. Quarry LP bought a new position in shares of Marvell Technology in the second quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL purchased a new stake in Marvell Technology in the second quarter valued at approximately $32,000. Finally, Optimum Investment Advisors bought a new stake in Marvell Technology during the first quarter valued at approximately $35,000. 83.51% of the stock is owned by institutional investors.

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.