Deutsche Bank Aktiengesellschaft Has Lowered Expectations for Marvell Technology (NASDAQ:MRVL) Stock Price

Marvell Technology (NASDAQ:MRVL - Get Free Report) had its price objective dropped by stock analysts at Deutsche Bank Aktiengesellschaft from $100.00 to $85.00 in a research note issued on Friday, MarketBeat Ratings reports. The brokerage currently has a "buy" rating on the semiconductor company's stock. Deutsche Bank Aktiengesellschaft's price target would suggest a potential upside of 38.28% from the stock's previous close.

Several other research firms also recently issued reports on MRVL. Rosenblatt Securities restated a "buy" rating and set a $124.00 price objective on shares of Marvell Technology in a report on Friday. Evercore ISI cut their price target on shares of Marvell Technology from $135.00 to $133.00 and set an "outperform" rating on the stock in a report on Friday. Barclays decreased their price objective on shares of Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Needham & Company LLC cut their target price on shares of Marvell Technology from $100.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday. Finally, KeyCorp decreased their target price on Marvell Technology from $115.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday. Seven analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $94.21.

Marvell Technology Price Performance

NASDAQ:MRVL traded up $1.28 during midday trading on Friday, hitting $61.47. 17,758,029 shares of the stock were exchanged, compared to its average volume of 14,463,723. The company has a market capitalization of $53.10 billion, a price-to-earnings ratio of -36.16, a P/E/G ratio of 1.61 and a beta of 1.83. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology has a one year low of $47.09 and a one year high of $127.48. The business has a 50-day moving average price of $58.72 and a two-hundred day moving average price of $86.81.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. Marvell Technology had a negative net margin of 27.49% and a positive return on equity of 4.59%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the company earned $0.24 EPS. Marvell Technology's revenue was up 63.3% on a year-over-year basis. Sell-side analysts predict that Marvell Technology will post 0.91 EPS for the current year.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CAO Panteha Dixon sold 1,239 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $65.01, for a total value of $80,547.39. Following the transaction, the chief accounting officer now directly owns 30,855 shares in the company, valued at $2,005,883.55. The trade was a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Casper sold 12,460 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,541 shares of company stock worth $2,079,948. Company insiders own 0.19% of the company's stock.

Institutional Investors Weigh In On Marvell Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Centricity Wealth Management LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at $26,000. Hughes Financial Services LLC acquired a new stake in Marvell Technology in the 1st quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new stake in Marvell Technology in the 4th quarter valued at about $27,000. Rossby Financial LCC bought a new position in shares of Marvell Technology in the first quarter worth about $27,000. Finally, Financial Connections Group Inc. grew its stake in shares of Marvell Technology by 776.0% during the first quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 388 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

About Marvell Technology

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.