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

Marvell Technology (NASDAQ:MRVL) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

MRVL has been the topic of several other reports. JPMorgan Chase & Co. lifted their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Rosenblatt Securities boosted their price objective on shares of Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Barclays increased their target price on shares of Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. KeyCorp boosted their price target on Marvell Technology from $95.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Susquehanna increased their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a report on Wednesday, December 4th. One investment 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.76.

Marvell Technology Trading Down 1.1 %

MRVL traded down $1.21 on Wednesday, hitting $110.45. 4,655,739 shares of the company were exchanged, compared to its average volume of 12,575,554. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology has a 12 month low of $53.19 and a 12 month high of $126.15. The firm has a fifty day simple moving average of $99.16 and a two-hundred day simple moving average of $80.65. The stock has a market capitalization of $95.57 billion, a PE ratio of -64.97, a price-to-earnings-growth ratio of 4.03 and a beta of 1.46.

Insider Transactions at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the transaction, the executive vice president now directly owns 97,244 shares in the company, valued at $11,912,390. The trade was a 5.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew J. Murphy bought 13,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were acquired at an average price of $77.63 per share, for a total transaction of $1,009,190.00. Following the completion of the purchase, the chief executive officer now owns 221,915 shares in the company, valued at approximately $17,227,261.45. The trade was a 6.22 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 172,500 shares of company stock valued at $14,267,670 in the last quarter. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Marvell Technology

A number of hedge funds have recently bought and sold shares of MRVL. Citizens Financial Group Inc. RI grew its stake in shares of Marvell Technology by 1.5% in the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after acquiring an additional 116 shares during the period. Crumly & Associates Inc. lifted its holdings in shares of Marvell Technology by 1.5% during the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock valued at $593,000 after buying an additional 121 shares during the period. United Capital Management of KS Inc. boosted its stake in shares of Marvell Technology by 0.4% in the 3rd quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock worth $2,470,000 after buying an additional 131 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in Marvell Technology by 1.4% during the third quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock valued at $716,000 after acquiring an additional 139 shares during the last quarter. Finally, ASB Consultores LLC lifted its holdings in Marvell Technology by 3.8% in the third quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock valued at $276,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

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.