Marvell Technology (NASDAQ:MRVL) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Marvell Technology (NASDAQ:MRVL) from a hold rating to a sell rating in a research report report published on Wednesday.

MRVL has been the subject of a number of other research reports. Barclays increased their price objective on shares of Marvell Technology from $85.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group increased their price objective on Marvell Technology from $87.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. B. Riley boosted their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. lifted their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley increased their price target on Marvell Technology from $102.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.76.

Marvell Technology Stock Up 4.1 %

MRVL opened at $118.18 on Wednesday. The business has a 50 day moving average of $100.53 and a 200-day moving average of $81.20. The stock has a market capitalization of $102.26 billion, a price-to-earnings ratio of -69.52, a P/E/G ratio of 4.03 and a beta of 1.46. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology has a 1-year low of $53.19 and a 1-year high of $126.15.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is presently -14.12%.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $120,750.00. Following the completion of the transaction, the chief financial officer now directly owns 110,253 shares of the company’s stock, valued at approximately $8,875,366.50. This trade represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the transaction, the insider now owns 694,487 shares in the company, valued at $55,906,203.50. This represents a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 172,500 shares of company stock valued at $14,267,670 over the last three months. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC boosted its holdings in shares of Marvell Technology by 2.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 204,143 shares of the semiconductor company’s stock worth $14,270,000 after buying an additional 5,410 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Marvell Technology by 60.9% during the second quarter. Farther Finance Advisors LLC now owns 6,563 shares of the semiconductor company’s stock worth $466,000 after buying an additional 2,484 shares in the last quarter. Essex Financial Services Inc. acquired a new position in shares of Marvell Technology in the second quarter valued at about $255,000. D.A. Davidson & CO. increased its position in Marvell Technology by 55.2% during the second quarter. D.A. Davidson & CO. now owns 55,338 shares of the semiconductor company’s stock worth $3,868,000 after acquiring an additional 19,672 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in Marvell Technology by 6.6% in the 2nd quarter. CIBC Asset Management Inc now owns 178,491 shares of the semiconductor company’s stock valued at $12,477,000 after purchasing an additional 10,979 shares during the period. 83.51% of the stock is currently owned by 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.