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

Equities research analysts at The Goldman Sachs Group initiated coverage on shares of Marvell Technology (NASDAQ:MRVL - Get Free Report) in a research note issued on Thursday,Benzinga reports. The firm set a "neutral" rating and a $75.00 price target on the semiconductor company's stock. The Goldman Sachs Group's target price indicates a potential upside of 3.79% from the company's current price.

Several other equities analysts have also recently weighed in on the company. Loop Capital lowered their price target on Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Stifel Nicolaus lowered their price objective on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Benchmark restated a "buy" rating and set a $95.00 target price on shares of Marvell Technology in a research report on Wednesday, June 18th. Morgan Stanley increased their price target on shares of Marvell Technology from $70.00 to $73.00 and gave the stock an "equal weight" rating in a research report on Friday, May 30th. Finally, Redburn Atlantic started coverage on shares of Marvell Technology in a research note on Wednesday, May 28th. They set a "neutral" rating and a $67.00 price target on the stock. Seven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $94.47.

Marvell Technology Stock Up 0.4%

Shares of Marvell Technology stock opened at $72.26 on Thursday. The company has a 50-day simple moving average of $67.34 and a two-hundred day simple moving average of $81.12. The stock has a market capitalization of $62.42 billion, a PE ratio of -126.77, a price-to-earnings-growth ratio of 0.78 and a beta of 1.81. Marvell Technology has a 52-week low of $47.09 and a 52-week high of $127.48. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. The business had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.88 billion. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The firm's quarterly revenue was up 63.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 EPS. On average, analysts anticipate that Marvell Technology will post 0.91 EPS for the current fiscal year.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $68.52, for a total value of $102,780.00. Following the sale, the chief financial officer directly owned 121,348 shares in the company, valued at $8,314,764.96. The trade was a 1.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Panteha Dixon sold 1,286 shares of Marvell Technology stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $65.00, for a total value of $83,590.00. Following the completion of the transaction, the chief accounting officer owned 32,094 shares of the company's stock, valued at approximately $2,086,110. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,394 shares of company stock worth $1,656,076. 0.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marvell Technology

Several large investors have recently modified their holdings of MRVL. Point72 Asia Singapore Pte. Ltd. bought a new position in Marvell Technology during the 4th quarter valued at about $234,000. Dynamic Advisor Solutions LLC boosted its position in shares of Marvell Technology by 5.0% during the first quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company's stock valued at $266,000 after buying an additional 206 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Marvell Technology during the fourth quarter valued at approximately $45,211,000. Yousif Capital Management LLC raised its holdings in shares of Marvell Technology by 8.4% in the first quarter. Yousif Capital Management LLC now owns 15,057 shares of the semiconductor company's stock worth $927,000 after buying an additional 1,164 shares during the period. Finally, Greykasell Wealth Strategies Inc. bought a new stake in shares of Marvell Technology during the 4th quarter worth approximately $818,000. 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.

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