Rosenblatt Securities Lowers Marvell Technology (NASDAQ:MRVL) Price Target to $100.00

Marvell Technology (NASDAQ:MRVL – Get Rating) had its price objective lowered by Rosenblatt Securities from $125.00 to $100.00 in a report issued on Friday, The Fly reports. Rosenblatt Securities’ price objective would indicate a potential upside of 127.07% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. UBS Group dropped their price target on shares of Marvell Technology from $75.00 to $60.00 in a research note on Friday. Wells Fargo & Company dropped their price target on shares of Marvell Technology from $58.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, December 2nd. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Monday, January 2nd. Barclays decreased their price objective on shares of Marvell Technology from $55.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, January 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Marvell Technology from $85.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, November 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.54.

Marvell Technology Trading Down 4.7 %

Shares of MRVL stock opened at $44.04 on Friday. Marvell Technology has a 12-month low of $33.75 and a 12-month high of $76.59. The company has a current ratio of 1.31, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. The firm’s 50 day moving average is $41.97 and its 200 day moving average is $42.93. The stock has a market capitalization of $37.57 billion, a P/E ratio of -231.79, a P/E/G ratio of 3.08 and a beta of 1.47.

Marvell Technology (NASDAQ:MRVL – Get Rating) last issued its quarterly earnings results on Thursday, March 2nd. The semiconductor company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Marvell Technology had a positive return on equity of 8.47% and a negative net margin of 2.76%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. Research analysts expect that Marvell Technology will post 1.38 earnings per share for the current year.

Insider Transactions at Marvell Technology

In other news, EVP Dan Christman sold 6,778 shares of the business’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $46.05, for a total value of $312,126.90. Following the sale, the executive vice president now directly owns 85,425 shares in the company, valued at approximately $3,933,821.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Muhammad Raghib Hussain sold 46,200 shares of Marvell Technology stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $42.22, for a total transaction of $1,950,564.00. Following the completion of the transaction, the insider now directly owns 757,342 shares of the company’s stock, valued at approximately $31,974,979.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Dan Christman sold 6,778 shares of Marvell Technology stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $46.05, for a total transaction of $312,126.90. Following the transaction, the executive vice president now directly owns 85,425 shares of the company’s stock, valued at $3,933,821.25. The disclosure for this sale can be found here. Insiders have sold a total of 68,978 shares of company stock worth $2,881,891 in the last three months. Insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Large investors have recently made changes to their positions in the company. Guardian Wealth Advisors LLC purchased a new position in shares of Marvell Technology during the 3rd quarter worth about $26,000. MADDEN SECURITIES Corp purchased a new stake in Marvell Technology in the 4th quarter valued at about $27,000. Resurgent Financial Advisors LLC purchased a new stake in Marvell Technology in the 4th quarter valued at about $28,000. Trifecta Capital Advisors LLC purchased a new stake in Marvell Technology in the 4th quarter valued at about $32,000. Finally, TimeScale Financial Inc. boosted its position in Marvell Technology by 2,480.6% in the 3rd quarter. TimeScale Financial Inc. now owns 800 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 769 shares during the period. 81.28% of the stock is owned by hedge funds and other institutional investors.

About Marvell Technology

(Get Rating)

Marvell Technology, Inc engages in the provision of data infrastructure semiconductor solutions. It offers compute, networking, storage, and custom solutions. The firm designs, develops, and sells integrated circuits. The company was founded by Wei Li Dai, Pantas Sutardja, and Sehat Sutardja in 1995 and is headquartered in Wilmington, DE.