Marvell Technology (NASDAQ:MRVL) Downgraded to "Hold" Rating by Melius

Marvell Technology (NASDAQ:MRVL - Get Free Report) was downgraded by Melius from a "buy" rating to a "hold" rating in a report released on Thursday, MarketBeat Ratings reports. They currently have a $66.00 price objective on the semiconductor company's stock. Melius' price objective would indicate a potential upside of 8.75% from the company's current price.

A number of other research firms have also recently weighed in on MRVL. Rosenblatt Securities restated a "buy" rating and issued a $140.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Barclays lowered their price objective on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Roth Capital set a $100.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. William Blair upgraded Marvell Technology to a "strong-buy" rating in a research note on Wednesday, February 5th. Finally, Cantor Fitzgerald downgraded shares of Marvell Technology from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $125.00 to $60.00 in a research report on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $104.52.

Marvell Technology Stock Performance

Shares of MRVL stock traded down $1.16 during trading hours on Thursday, reaching $60.69. 17,433,643 shares of the company's stock were exchanged, compared to its average volume of 14,195,952. The company has a market cap of $52.43 billion, a P/E ratio of -35.70, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. Marvell Technology has a 1 year low of $47.09 and a 1 year high of $127.48. The company's 50 day moving average is $59.58 and its two-hundred day moving average is $87.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Insider Buying and Selling

In related news, CAO Panteha Dixon sold 1,239 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $65.01, for a total transaction of $80,547.39. Following the completion of the sale, the chief accounting officer now directly owns 30,855 shares in the company, valued at approximately $2,005,883.55. This trade represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark Casper sold 626 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $61.10, for a total transaction of $38,248.60. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold 33,541 shares of company stock worth $2,079,948 in the last ninety days. 0.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marvell Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Zweig DiMenna Associates LLC increased its holdings in shares of Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock valued at $23,583,000 after acquiring an additional 12,700 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in shares of Marvell Technology during the 4th quarter worth approximately $637,000. RFG Advisory LLC boosted its position in shares of Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock valued at $4,708,000 after acquiring an additional 2,507 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $234,000. Finally, United Asset Strategies Inc. lifted its holdings in shares of Marvell Technology by 7.1% during the fourth quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company's stock valued at $24,287,000 after acquiring an additional 14,547 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

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.