StockNews.com Lowers Marvell Technology (NASDAQ:MRVL) to Sell

Marvell Technology (NASDAQ:MRVL - Get Free Report) was downgraded by StockNews.com from a "hold" rating to a "sell" rating in a research report issued on Wednesday.

Other analysts also recently issued research reports about the stock. Summit Insights upgraded shares of Marvell Technology from a "hold" rating to a "buy" rating in a research report on Friday, March 8th. Stifel Nicolaus restated a "buy" rating and set a $86.00 price target on shares of Marvell Technology in a research note on Friday, April 12th. UBS Group boosted their price objective on Marvell Technology from $70.00 to $83.00 and gave the company a "buy" rating in a research note on Monday, February 26th. Citigroup reaffirmed a "buy" rating and issued a $91.00 target price on shares of Marvell Technology in a report on Wednesday, March 27th. Finally, Oppenheimer reissued an "outperform" rating and set a $80.00 price objective (up from $70.00) on shares of Marvell Technology in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $81.28.

Marvell Technology Stock Up 3.1 %

Shares of MRVL traded up $2.13 during midday trading on Wednesday, hitting $70.15. The company had a trading volume of 10,002,104 shares, compared to its average volume of 13,345,656. The company's 50-day simple moving average is $68.97 and its 200-day simple moving average is $64.23. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.69. Marvell Technology has a 1 year low of $41.57 and a 1 year high of $85.76. The firm has a market capitalization of $60.71 billion, a P/E ratio of -64.95, a P/E/G ratio of 4.98 and a beta of 1.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. The company had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.42 billion. Marvell Technology had a negative net margin of 16.95% and a positive return on equity of 4.96%. The firm's revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 EPS. As a group, sell-side analysts expect that Marvell Technology will post 0.73 EPS for the current year.

Marvell Technology announced that its board has initiated a share repurchase plan on Thursday, March 7th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at Marvell Technology

In related news, CEO Matthew J. Murphy sold 30,000 shares of the business's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $67.67, for a total value of $2,030,100.00. Following the completion of the transaction, the chief executive officer now owns 762,929 shares of the company's stock, valued at approximately $51,627,405.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Willem A. Meintjes sold 1,000 shares of the company's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $71.50, for a total value of $71,500.00. Following the completion of the transaction, the chief financial officer now directly owns 101,986 shares in the company, valued at $7,291,999. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $67.67, for a total value of $2,030,100.00. Following the transaction, the chief executive officer now owns 762,929 shares in the company, valued at $51,627,405.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,500 shares of company stock worth $7,473,805. 0.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. FMR LLC increased its position in Marvell Technology by 0.3% during the third quarter. FMR LLC now owns 129,418,936 shares of the semiconductor company's stock worth $7,005,447,000 after purchasing an additional 421,622 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Marvell Technology by 0.6% in the first quarter. Vanguard Group Inc. now owns 72,810,448 shares of the semiconductor company's stock valued at $5,160,805,000 after acquiring an additional 468,086 shares during the last quarter. Capital Research Global Investors grew its position in Marvell Technology by 0.5% during the fourth quarter. Capital Research Global Investors now owns 35,791,266 shares of the semiconductor company's stock valued at $2,158,601,000 after acquiring an additional 185,479 shares during the period. Matrix Capital Management Company LP increased its stake in Marvell Technology by 14.3% during the fourth quarter. Matrix Capital Management Company LP now owns 15,055,500 shares of the semiconductor company's stock worth $907,997,000 after acquiring an additional 1,888,676 shares during the last quarter. Finally, Brown Advisory Inc. raised its holdings in shares of Marvell Technology by 25.9% in the 4th quarter. Brown Advisory Inc. now owns 14,764,957 shares of the semiconductor company's stock worth $890,475,000 after purchasing an additional 3,036,495 shares during the period. 83.51% of the stock is currently owned by hedge funds and other 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.