Marvell Technology (NASDAQ:MRVL) Price Target Lowered to $85.00 at Deutsche Bank Aktiengesellschaft

Marvell Technology (NASDAQ:MRVL - Get Free Report) had its target price cut by stock analysts at Deutsche Bank Aktiengesellschaft from $100.00 to $85.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor company's stock. Deutsche Bank Aktiengesellschaft's price target indicates a potential upside of 43.39% from the stock's previous close.

A number of other research firms have also recently issued reports on MRVL. Evercore ISI lowered their price objective on Marvell Technology from $135.00 to $133.00 and set an "outperform" rating on the stock in a research report on Friday. Barclays lowered their price objective on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Citigroup lowered their price objective on Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Melius Research cut Marvell Technology from a "strong-buy" rating to a "hold" rating and set a $66.00 price objective on the stock. in a research report on Thursday, May 22nd. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $60.00 price objective on shares of Marvell Technology in a research report on Friday. Seven investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $94.21.

Marvell Technology Stock Performance

NASDAQ MRVL traded down $4.45 during trading on Friday, hitting $59.28. The company's stock had a trading volume of 48,266,075 shares, compared to its average volume of 14,540,546. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average price of $58.72 and a 200 day moving average price of $86.86. The firm has a market cap of $51.21 billion, a P/E ratio of -34.87, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. Marvell Technology has a 52 week low of $47.09 and a 52 week high of $127.48.

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

Insider Transactions at Marvell Technology

In related news, EVP Mark Casper sold 626 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $61.10, for a total value of $38,248.60. Following the completion of the sale, the executive vice president now owns 626 shares in the company, valued at approximately $38,248.60. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Chris Koopmans sold 6,000 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $412,980.00. Following the completion of the sale, the chief operating officer now owns 81,931 shares of the company's stock, valued at $5,639,310.73. This represents a 6.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,541 shares of company stock worth $2,079,948 over the last 90 days. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Marvell Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRVL. Vanguard Group Inc. increased its holdings in shares of Marvell Technology by 1.9% in the first quarter. Vanguard Group Inc. now owns 63,770,122 shares of the semiconductor company's stock worth $3,926,326,000 after acquiring an additional 1,212,338 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Marvell Technology by 32.3% in the first quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock worth $1,272,117,000 after acquiring an additional 5,050,159 shares in the last quarter. Brown Advisory Inc. increased its holdings in shares of Marvell Technology by 2.2% in the first quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company's stock worth $1,188,333,000 after acquiring an additional 423,892 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Marvell Technology by 30.1% in the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock worth $1,784,649,000 after acquiring an additional 3,737,705 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Marvell Technology by 6.9% in the fourth quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company's stock worth $1,462,274,000 after acquiring an additional 857,087 shares in the last quarter. Institutional investors 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.