Marvell Technology (NASDAQ:MRVL) Given New $80.00 Price Target at Deutsche Bank Aktiengesellschaft

Marvell Technology (NASDAQ:MRVL – Get Rating) had its target price lowered by stock analysts at Deutsche Bank Aktiengesellschaft from $90.00 to $80.00 in a research note issued to investors on Wednesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 25.45% from the company’s previous close.

Several other analysts have also weighed in on MRVL. TheStreet lowered shares of Marvell Technology from a “b-” rating to a “c” rating in a research note on Friday, March 4th. StockNews.com initiated coverage on shares of Marvell Technology in a research note on Thursday, March 31st. They set a “sell” rating for the company. Zacks Investment Research lowered shares of Marvell Technology from a “strong-buy” rating to a “hold” rating and set a $76.00 price target for the company. in a research note on Wednesday, February 2nd. B. Riley decreased their price target on shares of Marvell Technology from $115.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, March 4th. Finally, Susquehanna boosted their price target on shares of Marvell Technology from $100.00 to $105.00 and gave the company a “positive” rating in a research note on Monday, March 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $96.92.

NASDAQ:MRVL opened at $63.77 on Wednesday. The company has a fifty day moving average of $67.54 and a 200-day moving average of $72.80. The firm has a market capitalization of $54.06 billion, a P/E ratio of -118.09, a P/E/G ratio of 2.10 and a beta of 1.20. The company has a quick ratio of 1.28, a current ratio of 1.80 and a debt-to-equity ratio of 0.29. Marvell Technology has a twelve month low of $40.79 and a twelve month high of $93.85.

Marvell Technology (NASDAQ:MRVL – Get Rating) last released its quarterly earnings data on Thursday, March 3rd. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Marvell Technology had a negative net margin of 9.44% and a positive return on equity of 5.60%. Marvell Technology’s revenue for the quarter was up 68.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. On average, analysts anticipate that Marvell Technology will post 1.66 EPS for the current fiscal year.

In other Marvell Technology news, EVP Dean E. Jr. Jarnac sold 6,000 shares of the stock in a transaction that occurred on Tuesday, April 19th. The shares were sold at an average price of $60.96, for a total transaction of $365,760.00. Following the transaction, the executive vice president now directly owns 24,879 shares in the company, valued at $1,516,623.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mitchell Gaynor sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 15th. The shares were sold at an average price of $70.54, for a total transaction of $352,700.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 183,829 shares of company stock worth $12,494,125. 0.33% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in MRVL. SkyView Investment Advisors LLC purchased a new stake in shares of Marvell Technology during the fourth quarter valued at approximately $26,000. HM Payson & Co. boosted its stake in shares of Marvell Technology by 52.5% during the third quarter. HM Payson & Co. now owns 453 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 156 shares during the period. Pittenger & Anderson Inc. purchased a new stake in shares of Marvell Technology during the fourth quarter valued at approximately $27,000. Covestor Ltd purchased a new stake in shares of Marvell Technology during the fourth quarter valued at approximately $28,000. Finally, Bell Investment Advisors Inc purchased a new stake in Marvell Technology in the third quarter worth $31,000. 82.49% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Company Profile (Get Rating)

Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors.

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