Marvell Technology (NASDAQ:MRVL) Now Covered by Analysts at BNP Paribas

BNP Paribas assumed coverage on shares of Marvell Technology (NASDAQ:MRVLGet Rating) in a research report released on Tuesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $62.00 price objective on the semiconductor company’s stock.

MRVL has been the topic of a number of other reports. Raymond James reissued a buy rating and issued a $80.00 price target on shares of Marvell Technology in a research report on Friday, May 27th. Cowen dropped their price target on Marvell Technology from $100.00 to $85.00 in a research report on Friday, May 27th. Oppenheimer dropped their price target on Marvell Technology from $110.00 to $90.00 and set an outperform rating on the stock in a research report on Friday, May 20th. UBS Group dropped their price target on Marvell Technology from $95.00 to $80.00 and set a buy rating on the stock in a research report on Monday, May 23rd. Finally, StockNews.com cut Marvell Technology from a hold rating to a sell rating in a research report on Tuesday, July 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $81.21.

Marvell Technology Stock Performance

Marvell Technology stock opened at $48.02 on Tuesday. The stock’s 50 day simple moving average is $50.94 and its two-hundred day simple moving average is $56.43. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.93 and a current ratio of 1.35. The stock has a market cap of $40.94 billion, a price-to-earnings ratio of -184.69, a PEG ratio of 2.02 and a beta of 1.51. Marvell Technology has a fifty-two week low of $41.07 and a fifty-two week high of $93.85.

Marvell Technology (NASDAQ:MRVLGet Rating) last posted its quarterly earnings data on Thursday, August 25th. The semiconductor company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.01. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Marvell Technology had a positive return on equity of 7.94% and a negative net margin of 3.95%. The business’s revenue was up 41.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 EPS. As a group, analysts expect that Marvell Technology will post 1.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Dan Christman sold 14,000 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $57.28, for a total value of $801,920.00. Following the sale, the executive vice president now directly owns 92,203 shares of the company’s stock, valued at approximately $5,281,387.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Mitchell Gaynor sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $47.67, for a total transaction of $238,350.00. Following the transaction, the executive vice president now directly owns 115,563 shares of the company’s stock, valued at $5,508,888.21. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Dan Christman sold 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $57.28, for a total transaction of $801,920.00. Following the transaction, the executive vice president now directly owns 92,203 shares in the company, valued at $5,281,387.84. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Marvell Technology

Institutional investors have recently modified their holdings of the stock. MUFG Americas Holdings Corp increased its position in shares of Marvell Technology by 90.2% during the first quarter. MUFG Americas Holdings Corp now owns 369 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 175 shares during the period. Covestor Ltd bought a new position in shares of Marvell Technology during the fourth quarter valued at approximately $28,000. Canton Hathaway LLC bought a new position in shares of Marvell Technology during the second quarter valued at approximately $28,000. Arlington Partners LLC bought a new position in shares of Marvell Technology during the second quarter valued at approximately $29,000. Finally, Deseret Mutual Benefit Administrators boosted its stake in shares of Marvell Technology by 140.3% during the second quarter. Deseret Mutual Benefit Administrators now owns 668 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 390 shares in the last quarter. 80.95% 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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