Marvell Technology (NASDAQ:MRVL) Downgraded to Neutral Rating by Cantor Fitzgerald

Marvell Technology (NASDAQ:MRVL - Get Free Report) was downgraded by analysts at Cantor Fitzgerald from an "overweight" rating to a "neutral" rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. They presently have a $60.00 target price on the semiconductor company's stock. Cantor Fitzgerald's target price would suggest a potential upside of 8.89% from the stock's current price.

MRVL has been the topic of several other research reports. Bank of America lowered their price objective on shares of Marvell Technology from $120.00 to $72.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Roth Capital set a $100.00 target price on Marvell Technology in a research note on Thursday, March 6th. Wells Fargo & Company reissued an "overweight" rating on shares of Marvell Technology in a report on Thursday, March 6th. Citigroup dropped their target price on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Finally, Benchmark restated a "buy" rating and issued a $135.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $111.78.

Marvell Technology Stock Down 10.0 %

Shares of Marvell Technology stock opened at $55.10 on Wednesday. The firm has a market cap of $47.60 billion, a price-to-earnings ratio of -32.14, a P/E/G ratio of 1.61 and a beta of 1.83. The stock has a 50-day simple moving average of $63.04 and a 200-day simple moving average of $89.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology has a 52-week low of $47.09 and a 52-week high of $127.48.

Insider Transactions at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the transaction, the chief operating officer now owns 87,931 shares in the company, valued at $9,351,461.85. The trade was a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Casper sold 12,460 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The disclosure for this sale can be found here. Insiders have sold 28,890 shares of company stock valued at $2,027,938 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Institutional Trading of Marvell Technology

Several institutional investors and hedge funds have recently made changes to their positions in MRVL. Zweig DiMenna Associates LLC raised its holdings in Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock worth $23,583,000 after purchasing an additional 12,700 shares in the last quarter. Berbice Capital Management LLC acquired a new stake in Marvell Technology in the 4th quarter worth approximately $637,000. RFG Advisory LLC grew its holdings in shares of Marvell Technology by 6.2% during the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock valued at $4,708,000 after buying an additional 2,507 shares during the last quarter. United Asset Strategies Inc. raised its stake in shares of Marvell Technology by 7.1% in the fourth quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company's stock worth $24,287,000 after purchasing an additional 14,547 shares during the last quarter. Finally, Prudent Investors Network Inc. purchased a new position in Marvell Technology during the 4th quarter worth approximately $248,000. 83.51% of the stock is currently owned by 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.

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