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

Marvell Technology (NASDAQ:MRVL - Get Free Report) was downgraded by analysts at Melius Research from a "strong-buy" rating to a "hold" rating in a report issued on Thursday, MarketBeat Ratings reports. They presently have a $66.00 price target on the semiconductor company's stock. Melius Research's target price indicates a potential upside of 6.71% from the company's current price.

MRVL has been the subject of a number of other research reports. Melius cut Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price objective for the company. in a research report on Thursday. KeyCorp decreased their price target on shares of Marvell Technology from $135.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Summit Insights lowered shares of Marvell Technology from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Piper Sandler reduced their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Finally, Benchmark decreased their target price on shares of Marvell Technology from $135.00 to $95.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $104.52.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $61.85 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. The business has a fifty day moving average of $59.73 and a 200-day moving average of $88.09. The stock has a market cap of $53.43 billion, a price-to-earnings ratio of -36.38, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83.

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $60.00, for a total value of $90,000.00. Following the completion of the transaction, the chief financial officer now directly owns 124,348 shares in the company, valued at approximately $7,460,880. This trade represents a 1.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Casper sold 626 shares of Marvell Technology stock in a transaction that occurred on 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 now owns 626 shares of the company's stock, valued at approximately $38,248.60. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,541 shares of company stock worth $2,079,948. Company insiders own 0.19% of the company's stock.

Institutional Trading of Marvell Technology

A number of institutional investors and hedge funds have recently made changes to their positions in MRVL. Vanguard Group Inc. boosted its position in Marvell Technology by 1.9% during the 1st 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 during the period. Goldman Sachs Group Inc. lifted its holdings in 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 purchasing an additional 5,050,159 shares during the period. Brown Advisory Inc. grew its position in Marvell Technology by 2.2% in the 1st quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company's stock valued at $1,188,333,000 after buying an additional 423,892 shares in the last quarter. Invesco Ltd. increased its stake in Marvell Technology by 30.1% during the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock valued at $1,784,649,000 after buying an additional 3,737,705 shares during the period. Finally, Janus Henderson Group PLC increased its stake in Marvell Technology by 6.9% during the 4th quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company's stock valued at $1,462,274,000 after buying an additional 857,087 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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.