Morgan Stanley Issues Pessimistic Forecast for Marvell Technology (NASDAQ:MRVL) Stock Price

Marvell Technology (NASDAQ:MRVL - Get Free Report) had its price target decreased by investment analysts at Morgan Stanley from $90.00 to $70.00 in a report released on Tuesday. The brokerage presently has an "equal weight" rating on the semiconductor company's stock. Morgan Stanley's target price suggests a potential upside of 9.84% from the company's previous close.

Other equities research analysts have also issued reports about the company. Piper Sandler reduced their price objective on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Susquehanna cut their price objective on Marvell Technology from $110.00 to $90.00 and set a "positive" rating for the company in a report on Tuesday. William Blair upgraded Marvell Technology to a "strong-buy" rating in a report on Wednesday, February 5th. Loop Capital upgraded Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price objective for the company in a report on Thursday, March 6th. Finally, Summit Insights lowered Marvell Technology from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Marvell Technology has a consensus rating of "Moderate Buy" and a consensus target price of $100.32.

Marvell Technology Stock Performance

Shares of Marvell Technology stock traded down $0.86 on Tuesday, reaching $63.73. 38,550,281 shares of the company were exchanged, compared to its average volume of 14,382,648. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The company's 50-day moving average is $59.14 and its two-hundred day moving average is $87.29. The firm has a market cap of $55.05 billion, a price-to-earnings ratio of -37.49, a P/E/G 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.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its earnings results on Thursday, May 29th. The semiconductor company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.14). Marvell Technology had a negative net margin of 27.49% and a positive return on equity of 4.59%. As a group, research analysts expect that Marvell Technology will post 0.91 earnings per share for the current fiscal year.

Insider Transactions at Marvell Technology

In related news, CAO Panteha Dixon sold 1,239 shares of Marvell Technology stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $65.01, for a total transaction of $80,547.39. Following the sale, the chief accounting officer now directly owns 30,855 shares of the company's stock, valued at $2,005,883.55. This trade represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,541 shares of company stock worth $2,079,948. Company insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Marvell Technology

A number of institutional investors have recently added to or reduced their stakes in MRVL. PFG Investments LLC boosted its holdings in Marvell Technology by 43.8% during the fourth quarter. PFG Investments LLC now owns 4,373 shares of the semiconductor company's stock valued at $483,000 after purchasing an additional 1,332 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Marvell Technology during the fourth quarter valued at approximately $16,699,000. Foundations Investment Advisors LLC acquired a new stake in Marvell Technology during the fourth quarter valued at approximately $339,000. Nilsine Partners LLC boosted its holdings in Marvell Technology by 31.1% during the fourth quarter. Nilsine Partners LLC now owns 3,782 shares of the semiconductor company's stock valued at $418,000 after purchasing an additional 897 shares in the last quarter. Finally, Perigon Wealth Management LLC acquired a new stake in Marvell Technology during the fourth quarter valued at approximately $387,000. 83.51% of the stock is 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.

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