Marvell technology (NASDAQ: MRVL) has been downgraded to StockNews.com

Marvell Technology (NASDAQ: MRVL – Get rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note released Friday.

Other stock analysts also recently released research reports on the company. Needham & Company LLC reduced its target price for Marvell Technology from $ 105.00 to $ 75.00 in a report on Friday, May 27. Deutsche Bank Aktiengesellschaft reduced its target price for Marvell Technology from $ 80.00 to $ 75.00 in a report on Friday, May 27. Piper Sandler cut his Marvell Technology price target from $ 100.00 to $ 80.00 in a report on Friday (March 4th). Susquehanna Bancshares lowered her Marvell Technology price target from $ 105.00 to $ 90.00 and set a “positive” rating for the company in a report on Wednesday (May 25th). Finally, B. Riley lowered his price target for Marvell Technology from $ 95.00 to $ 72.00 in a report on Monday, May 23. One stock research analyst rated the shares with a rating for sale, three gave a rating for retention and twenty-six gave a rating for the purchase of the company’s shares. According to MarketBeat, Marvell Technology currently has a consensus Buy rating and a consensus target of $ 88.12.

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Shares of NASDAQ MRVL traded down $ 3.41 during trading in the middle of the day on Friday, reaching $ 53.07. The company had a trading volume of 12,026,494 shares, compared to an average volume of 11,060,926. The company has a market capitalization of $ 45.10 billion, a PE ratio of -87.00, a price-earnings-growth ratio of 1.95 and a beta of 1.27. The company has a 50-day simple moving average of $ 59.18 and a two-day simple moving average of $ 69.87. The company has a current ratio of 1.67, a fast ratio of 1.13 and a debt-to-equity ratio of 0.29. Marvell Technology has a one-year low of $ 50.41 and a one-year high of $ 93.85.

Marvell Technology (NASDAQ: MRVL – Get Rating) last announced its quarterly earnings data on Thursday, May 26th. The semiconductor company reported earnings of $ 0.52 per share for the quarter, beating the consensus estimate of $ 0.51 by $ 0.01. Marvell Technology has a positive return on equity of 6.92% and a negative net profit of 9.82%. The company had revenue of $ 1.45 billion in the quarter, compared to analysts’ expectations of $ 1.43 billion. In the same quarter last year, the company earned $ 0.15 EPS. Marvell Technology’s revenue for the quarter was up 73.8% from the same quarter last year. Sales analysts expect Marvell Technology to report 1.7 earnings per share for the current fiscal year.

In other news from Marvell Technology, EVP Loi Nguyen sold 1,512 shares of the business stock in a deal on Thursday, June 2nd. The shares were sold at an average price of $ 60.00, for a total transaction of $ 90,720.00. Following the sale, the executive vice president now owns 207,727 shares of the company’s stock worth $ 12,463,620. The transaction is disclosed in legal documents in the SEC, which is accessible through this link. In addition, director Ford Tamer sold 48,051 shares of the company’s shares in a deal on Tuesday (April 5th). The shares were sold at an average price of $ 71.61, for a total transaction of $ 3,440,932.11. Following the sale, the director now directly owns 331,083 shares in the company worth approximately $ 23,708,853.63. The revelation for this sale can be found here. In the last ninety days, insiders have sold 231,216 shares of the company worth $ 14,891,753. Insiders own 0.45% of the company’s shares.

Several institutional investors have recently changed their holdings in the shares. BlackRock Inc. increased its stake in Marvell Technology by 3.4% in the fourth quarter. BlackRock Inc. already owns 70,754,622 shares of the semiconductor company’s stock worth $ 6,190,323,000 after buying an additional 2,305,751 shares in the last quarter. Vanguard Group Inc. increased its stake in Marvell Technology by 2.9% in the first quarter. Vanguard Group Inc. already owns 64,581,244 shares of the semiconductor company’s stock worth $ 4,631,120,000 after buying an additional 1,847,159 shares in the last quarter. Wellington Management Group LLP increased its stake in Marvell Technology by 15.7% in the third quarter. Wellington Management Group LLP already owns 45,843,799 shares of the semiconductor company’s stock worth $ 2,764,839,000 after purchasing an additional 6,222,814 shares in the last quarter. State Street Corp increased its stake in Marvell Technology by 0.9% in the first quarter. State Street Corp. now owns 18,632,316 shares of the semiconductor company’s $ 1,336,123,000 shares after buying an additional 174,753 shares in the last quarter. Finally, Brown Advisory Inc. increased its stake in Marvell Technology by 20.7% in the fourth quarter. Brown Advisory Inc. already owns 12,746,528 shares of the semiconductor company’s stock worth $ 1,115,193,000 after buying an additional 2,188,891 shares in the last quarter. 83.11% of the shares are currently owned by institutional investors.

Company Profile Marvell Technology (Get an estimate)

Marvell Technology, Inc., together with its subsidiaries, designs, develops and sells analog, mixed signals, digital signal processing and embedded and stand-alone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers and switches; single-core or multi-core processors; ASIC; and printer System-on-a-Chip products and processors for applications.

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Analyst Recommendations for Marvell Technology (NASDAQ: MRVL)

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