Marvell Technology, Inc. (NASDAQ:MRVL) Given Consensus Recommendation of “Buy” by Analysts

Marvell Technology, Inc. (NASDAQ:MRVL) has been given a consensus recommendation of “Buy” by the twenty-eight brokerages that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, twenty-four have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $120.44.

MRVL has been the topic of several recent analyst reports. Bank of America lowered their price target on Marvell Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Needham & Company LLC decreased their target price on Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Citigroup decreased their target price on Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Roth Capital set a $100.00 target price on Marvell Technology in a report on Thursday, March 6th. Finally, Craig Hallum boosted their target price on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, January 6th.

Marvell Technology Stock Up 1.0 %

NASDAQ:MRVL opened at $70.49 on Friday. The firm has a market capitalization of $61.05 billion, a price-to-earnings ratio of -41.46, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology has a twelve month low of $53.19 and a twelve month high of $127.48. The stock’s 50 day moving average price is $99.94 and its two-hundred day moving average price is $93.56. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the sale, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the sale, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at $13,159,597.63. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,685 shares of company stock worth $4,026,768 over the last ninety days. 0.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. State Street Corp boosted its position in Marvell Technology by 0.3% in the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after purchasing an additional 68,893 shares during the last quarter. Invesco Ltd. boosted its holdings in Marvell Technology by 30.1% during the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock valued at $1,784,649,000 after acquiring an additional 3,737,705 shares during the period. Janus Henderson Group PLC boosted its holdings in Marvell Technology by 6.9% during the 4th quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company’s stock valued at $1,462,274,000 after acquiring an additional 857,087 shares during the period. Wellington Management Group LLP raised its position in Marvell Technology by 43.1% during the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock valued at $1,374,252,000 after purchasing an additional 3,747,982 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Marvell Technology by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock valued at $1,263,755,000 after purchasing an additional 80,005 shares during the last quarter. 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.