Marvell Technology (NASDAQ:MRVL) Stock Rating Reaffirmed by Roth Mkm

Marvell Technology (NASDAQ:MRVL)‘s stock had its “buy” rating reiterated by Roth Mkm in a research note issued on Friday, Benzinga reports. They currently have a $95.00 price objective on the semiconductor company’s stock. Roth Mkm’s target price indicates a potential upside of 35.40% from the company’s current price.

MRVL has been the topic of a number of other research reports. Summit Insights raised Marvell Technology from a “hold” rating to a “buy” rating in a research note on Friday, March 8th. Barclays raised their price target on Marvell Technology from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a research note on Friday. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price target on shares of Marvell Technology in a research note on Monday, March 4th. Finally, Morgan Stanley raised their price target on Marvell Technology from $63.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $79.96.

Marvell Technology Stock Down 1.9 %

Marvell Technology stock opened at $70.16 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69. The firm has a market capitalization of $60.76 billion, a price-to-earnings ratio of -64.96, a price-to-earnings-growth ratio of 5.23 and a beta of 1.50. Marvell Technology has a fifty-two week low of $36.90 and a fifty-two week high of $85.76. The stock’s fifty day moving average is $70.38 and its two-hundred day moving average is $61.83.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. Marvell Technology’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 earnings per share. Analysts predict that Marvell Technology will post 0.72 EPS for the current fiscal year.

Marvell Technology declared that its board has initiated a share buyback plan on Thursday, March 7th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 4.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $65.26, for a total transaction of $326,300.00. Following the completion of the transaction, the executive vice president now owns 124,117 shares in the company, valued at approximately $8,099,875.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $71.50, for a total transaction of $71,500.00. Following the completion of the transaction, the chief financial officer now owns 101,986 shares in the company, valued at approximately $7,291,999. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $65.26, for a total value of $326,300.00. Following the transaction, the executive vice president now owns 124,117 shares of the company’s stock, valued at approximately $8,099,875.42. The disclosure for this sale can be found here. Insiders sold 108,000 shares of company stock worth $7,188,790 in the last 90 days. 0.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC raised its stake in shares of 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 buying an additional 141 shares in the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Marvell Technology by 56.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after buying an additional 155 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Marvell Technology by 23.4% in the 4th quarter. Blue Trust Inc. now owns 817 shares of the semiconductor company’s stock worth $45,000 after buying an additional 155 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Marvell Technology by 34.7% in the 4th quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock worth $38,000 after buying an additional 161 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its stake in shares of Marvell Technology by 0.5% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 30,764 shares of the semiconductor company’s stock worth $1,855,000 after buying an additional 162 shares in the last quarter. Institutional investors and hedge funds 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.