UBS Group Cuts Marvell Technology (NASDAQ:MRVL) Price Target to $100.00

Marvell Technology (NASDAQ:MRVL) had its target price reduced by UBS Group from $110.00 to $100.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other equities analysts also recently weighed in on the stock. Barclays lowered their target price on shares of Marvell Technology from $130.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Citigroup reduced their target price on shares of Marvell Technology from $122.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Marvell Technology in a research report on Thursday, March 6th. Cantor Fitzgerald downgraded Marvell Technology from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $125.00 to $60.00 in a research note on Wednesday, May 7th. Finally, William Blair raised Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $110.69.

Marvell Technology Trading Down 2.1%

NASDAQ MRVL opened at $60.11 on Monday. Marvell Technology has a one year low of $47.09 and a one year high of $127.48. The company has a 50-day simple moving average of $59.90 and a 200-day simple moving average of $88.24. 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 firm has a market capitalization of $51.92 billion, a PE ratio of -35.36, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.40%. The ex-dividend date was Friday, April 11th. Marvell Technology’s dividend payout ratio is currently -23.53%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 12,460 shares of the company’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brad W. Buss purchased 3,000 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $69.00 per share, with a total value of $207,000.00. Following the completion of the acquisition, the director now directly owns 87,113 shares of the company’s stock, valued at approximately $6,010,797. This trade represents a 3.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 33,541 shares of company stock worth $2,079,948 over the last ninety days. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Marvell Technology

Hedge funds have recently modified their holdings of the company. Westbourne Investments Inc. bought a new position in Marvell Technology in the first quarter valued at approximately $246,000. Acadian Asset Management LLC raised its holdings in shares of Marvell Technology by 108.5% during the first quarter. Acadian Asset Management LLC now owns 116,550 shares of the semiconductor company’s stock worth $7,171,000 after acquiring an additional 60,649 shares during the period. Geneos Wealth Management Inc. increased its stake in Marvell Technology by 63.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 14,839 shares of the semiconductor company’s stock valued at $914,000 after buying an additional 5,744 shares during the last quarter. IFM Investors Pty Ltd increased its stake in Marvell Technology by 0.5% in the 1st quarter. IFM Investors Pty Ltd now owns 165,849 shares of the semiconductor company’s stock valued at $10,211,000 after buying an additional 831 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in Marvell Technology by 3.9% in the 1st quarter. Intech Investment Management LLC now owns 28,784 shares of the semiconductor company’s stock valued at $1,772,000 after buying an additional 1,085 shares during the last quarter. Institutional investors and hedge funds 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.