Marvell Technology (NASDAQ:MRVL) Now Covered by Analysts at The Goldman Sachs Group

Analysts at The Goldman Sachs Group began coverage on shares of Marvell Technology (NASDAQ:MRVL - Get Free Report) in a note issued to investors on Thursday, Marketbeat.com reports. The brokerage set a "neutral" rating and a $75.00 price target on the semiconductor company's stock. The Goldman Sachs Group's price objective indicates a potential upside of 2.24% from the company's current price.

Several other equities analysts have also issued reports on MRVL. Citigroup dropped their price target on Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Redburn Atlantic assumed coverage on shares of Marvell Technology in a research note on Wednesday, May 28th. They set a "neutral" rating and a $67.00 target price on the stock. Wall Street Zen raised shares of Marvell Technology from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Benchmark reiterated a "buy" rating and set a $95.00 price objective on shares of Marvell Technology in a report on Wednesday, June 18th. Finally, Needham & Company LLC restated a "buy" rating and issued a $85.00 target price on shares of Marvell Technology in a research note on Wednesday, June 18th. Seven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Marvell Technology has a consensus rating of "Moderate Buy" and a consensus price target of $94.47.

Marvell Technology Trading Up 1.5%

Marvell Technology stock traded up $1.10 during mid-day trading on Thursday, hitting $73.36. 11,505,300 shares of the stock were exchanged, compared to its average volume of 15,778,684. The firm's fifty day simple moving average is $67.34 and its two-hundred day simple moving average is $81.12. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 0.22. Marvell Technology has a 12 month low of $47.09 and a 12 month high of $127.48. The stock has a market capitalization of $63.37 billion, a price-to-earnings ratio of 55.16, a PEG ratio of 0.78 and a beta of 1.81.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. Marvell Technology's quarterly revenue was up 63.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 earnings per share. Analysts forecast that Marvell Technology will post 0.91 EPS for the current year.

Insider Transactions at Marvell Technology

In related news, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $65.10, for a total transaction of $390,600.00. Following the sale, the chief operating officer directly owned 92,065 shares in the company, valued at approximately $5,993,431.50. The trade was a 6.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Casper sold 626 shares of the firm'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 transaction, the executive vice president owned 626 shares of the company's stock, valued at approximately $38,248.60. This represents a 50.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,394 shares of company stock worth $1,656,076. Insiders own 0.19% of the company's stock.

Institutional Trading of Marvell Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of MRVL. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Marvell Technology in the fourth quarter worth $234,000. Dynamic Advisor Solutions LLC boosted its position in shares of Marvell Technology by 5.0% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company's stock valued at $266,000 after acquiring an additional 206 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Marvell Technology during the fourth quarter worth about $45,211,000. Yousif Capital Management LLC grew its holdings in shares of Marvell Technology by 8.4% during the first quarter. Yousif Capital Management LLC now owns 15,057 shares of the semiconductor company's stock worth $927,000 after purchasing an additional 1,164 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of Marvell Technology in the fourth quarter worth approximately $818,000. Institutional investors own 83.51% of the company's stock.

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.