Marvell Technology (NASDAQ:MRVL) Rating Reiterated by Roth Mkm

Marvell Technology (NASDAQ:MRVL)‘s stock had its “buy” rating reissued by research analysts at Roth Mkm in a report issued on Friday, Benzinga reports. They currently have a $95.00 target price on the semiconductor company’s stock. Roth Mkm’s target price points to a potential upside of 24.61% from the company’s previous close.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Marvell Technology in a research report on Friday, May 31st. Rosenblatt Securities restated a “buy” rating and set a $100.00 price target on shares of Marvell Technology in a research report on Thursday, August 22nd. B. Riley increased their price objective on Marvell Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Needham & Company LLC restated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday. Finally, KeyCorp upped their target price on shares of Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $91.62.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $76.24 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.80 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average of $67.95 and a 200 day moving average of $69.47. The firm has a market capitalization of $65.99 billion, a price-to-earnings ratio of -67.47, a PEG 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.

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

Insider Transactions at Marvell Technology

In related news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $73.42, for a total transaction of $367,100.00. Following the transaction, the executive vice president now owns 115,318 shares in the company, valued at $8,466,647.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction on Monday, June 17th. The stock was sold at an average price of $73.42, for a total value of $367,100.00. Following the completion of the sale, the executive vice president now owns 115,318 shares of the company’s stock, valued at $8,466,647.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Thursday, August 15th. The shares were 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 approximately $7,559,637.75. The disclosure for this sale can be found here. Insiders sold 65,500 shares of company stock worth $4,872,620 over the last three months. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Marvell Technology

A number of institutional investors and hedge funds have recently made changes to their positions in MRVL. Bruce G. Allen Investments LLC raised its position in Marvell Technology by 56.4% in the first 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 period. Salomon & Ludwin LLC purchased a new stake in shares of Marvell Technology in the 1st quarter worth $31,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Marvell Technology in the 2nd quarter worth $32,000. Quarry LP bought a new position in Marvell Technology in the 2nd quarter worth $32,000. Finally, Optimum Investment Advisors purchased a new position in Marvell Technology during the first quarter valued at $35,000. Hedge funds and other 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.