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

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

Several other research analysts have also weighed in on MRVL. Summit Insights raised Marvell Technology from a hold rating to a buy rating in a research report on Friday, March 8th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $85.00 target price on shares of Marvell Technology in a research report on Friday, April 12th. Needham & Company LLC reaffirmed a buy rating and issued a $95.00 target price on shares of Marvell Technology in a research report on Friday, April 12th. Rosenblatt Securities reaffirmed a buy rating and issued a $100.00 target price on shares of Marvell Technology in a research report on Monday, March 4th. Finally, Roth Mkm reaffirmed a buy rating and issued a $95.00 target price on shares of Marvell Technology in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $81.13.

Marvell Technology Trading Down 4.1 %

Shares of NASDAQ MRVL opened at $65.91 on Friday. Marvell Technology has a 12 month low of $38.63 and a 12 month high of $85.76. The company has a market cap of $57.08 billion, a price-to-earnings ratio of -61.03, a P/E/G ratio of 5.09 and a beta of 1.50. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $69.93 and a 200-day simple moving average of $62.92.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. Marvell Technology had a positive return on equity of 4.96% and a negative net margin of 16.95%. Marvell Technology’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 earnings per share. Sell-side analysts predict that Marvell Technology will post 0.72 EPS for the current year.

Marvell Technology announced that its Board of Directors has approved a share buyback program on Thursday, March 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 4.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be given a $0.06 dividend. The ex-dividend date is Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.36%. Marvell Technology’s dividend payout ratio is currently -22.22%.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $68.20, for a total value of $68,200.00. Following the completion of the sale, the chief financial officer now owns 103,986 shares in the company, valued at approximately $7,091,845.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $68.20, for a total value of $68,200.00. Following the completion of the transaction, the chief financial officer now directly owns 103,986 shares of the company’s stock, valued at approximately $7,091,845.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $64.75, for a total value of $161,875.00. Following the completion of the transaction, the executive vice president now directly owns 21,266 shares of the company’s stock, valued at $1,376,973.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,500 shares of company stock worth $7,477,515. 0.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Marvell Technology

Hedge funds have recently modified their holdings of the stock. Bruce G. Allen Investments LLC raised its holdings in shares of Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after buying an additional 141 shares in the last quarter. SJS Investment Consulting Inc. raised its holdings in shares of Marvell Technology by 56.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after buying an additional 155 shares in the last quarter. Buck Wealth Strategies LLC increased its holdings in Marvell Technology by 1,328.1% during the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 425 shares in the last quarter. Optimum Investment Advisors bought a new position in Marvell Technology in the 1st quarter valued at $35,000. Finally, Oliver Lagore Vanvalin Investment Group raised its position in Marvell Technology by 46.2% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 165 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

About Marvell Technology

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.