Marvell Technology (NASDAQ: MRVL) stock rating downgraded by Zacks Investment Research
Marvell Technology (NASDAQ: MRVL) was downgraded by Zacks Investment Research from a “buy” rating to a “keep” rating in a report released Wednesday, Zacks.com reports. They currently have a price target of $ 64.00 on shares of the semiconductor company. Zacks Investment Research’s price target points to a potential rise of 4.66% from the company’s previous close.
According to Zacks, “Marvell is enjoying strong demand for its storage and networking chips from the 5G infrastructure and data center end markets. Strong supply chain executions help it meet the high demand of cloud data centers for its smart network adapters and security. adapters. In addition, the wireless infrastructure business shows signs of improvement. In addition, the recent acquisition of Inphi Corporation increases sales. In addition, the storage activity regularly recovers from the impacts of the coronavirus. The stock has outperformed the industry over the past year. However, Marvell warned that industry-wide supply constraints and a pause in 5G rollout in China would negatively impact its near-term results. In addition, the government’s export restriction American on some Chinese customers is likely to continue to weigh on the market. top row. “
A number of other equity analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft raised its price target on Marvell Technology from $ 70.00 to $ 76.00 and gave the stock a “buy” rating in a report released on Friday August 27. Stifel Nicolaus raised his price target on Marvell Technology from $ 70.00 to $ 74.00 and gave the stock a “buy” rating in a report released on Friday, August 27. Rosenblatt Securities raised its price target on Marvell Technology from $ 60.00 to $ 70.00 and gave the stock a “buy” rating in a report released on Tuesday, June 8. JPMorgan Chase & Co. provided coverage on Marvell Technology in a report on Tuesday, June 8. They set a rating of “overweight” to the stock. Finally, Evercore ISI raised its price target on Marvell Technology from $ 55.00 to $ 63.00 and gave the company an “outperformance” rating in a report released on Tuesday, June 8. Five research analysts rated the stock with a conservation rating and twenty-three gave the stock a buy rating. According to MarketBeat.com, Marvell Technology currently has an average rating of “Buy” and a consensus target price of $ 66.68.
NASDAQ: MRVL traded down $ 0.04 at midday on Wednesday, reaching $ 61.15. The company’s shares had a trading volume of 22,966 shares, compared to its average volume of 5,888,057. The company’s fifty-day simple moving average is $ 58.82 and its two-hundred simple moving average. days is $ 51.64. The company has a leverage ratio of 0.12, a current ratio of 1.50, and a quick ratio of 1.25. Marvell Technology has a twelve month low of $ 35.30 and a twelve month high of $ 64.07. The stock has a market cap of $ 50.36 billion, a P / E ratio of -127.67, a P / E / G ratio of 3.05, and a beta of 1.07.
Marvell Technology (NASDAQ: MRVL) last released its quarterly results on Wednesday, August 25. The semiconductor company reported EPS of $ 0.34 for the quarter, beating analyst consensus estimates of $ 0.31 by $ 0.03. Marvell Technology recorded a positive return on equity of 6.40% and a negative net margin of 10.74%. During the same period of the previous year, the company posted EPS of $ 0.21. Sell-side analysts expect Marvell Technology to post EPS of 0.99 for the current fiscal year.
In other Marvell Technology news, CAO Willem A. Meintjes sold 10,000 Marvell Technology shares in a trade on Tuesday, June 15. The stock was sold for an average price of $ 53.51, for a total trade of $ 535,100.00. The sale was disclosed in a filing with the SEC, which is available at this link. Additionally, CEO Matthew J. Murphy sold 20,000 Marvell Technology shares in a trade on Tuesday, June 15. The shares were sold for an average price of $ 53.57, for a total value of $ 1,071,400.00. Disclosure of this sale can be found here. Insiders have sold a total of 70,000 shares of the company valued at $ 3,908,100 in the past 90 days. Insiders own 0.33% of the company’s shares.
Several institutional investors and hedge funds have recently bought and sold shares in the company. Mid Atlantic Financial Management Inc. ADV increased its stake in Marvell Technology shares by 2.3% in the 2nd quarter. Mid Atlantic Financial Management Inc. ADV now owns 7,780 shares of the semiconductor company valued at $ 454,000 after purchasing 178 additional shares in the last quarter. Nations Financial Group Inc. IA ADV increased its stake in Marvell Technology shares by 1.3% in the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 13,534 shares of the semiconductor company valued at $ 789,000 after purchasing 178 additional shares in the last quarter. Well Done LLC increased its stake in Marvell Technology shares by 4.5% in the 2nd quarter. Well Done LLC now owns 4,505 shares of the semiconductor company valued at $ 263,000 after purchasing 192 more shares in the last quarter. Western Wealth Management LLC increased its stake in Marvell Technology shares by 1.7% in the 2nd quarter. Western Wealth Management LLC now owns 11,416 shares of the semiconductor company valued at $ 665,000 after purchasing 192 more shares in the last quarter. Finally, 180 Wealth Advisors LLC increased its stake in Marvell Technology shares by 3.0% in the second quarter. 180 Wealth Advisors LLC now owns 7,226 shares of the semiconductor company valued at $ 432,000 after purchasing 208 additional shares in the last quarter. 84.98% of the shares are currently held by institutional investors.
About Marvell Technology
Marvell Technology, Inc is committed to providing semiconductor data infrastructure solutions. It offers compute, networking, storage and custom solutions. The company was founded in 1995 and is headquartered in Wilmington, DE.
Featured article: What is a management fee?
Get a Free Copy of Zacks’ Research Report on Marvell Technology (MRVL)
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant news alert was powered by storytelling technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $ 1,000 in Marvell Technology now?
Before you consider Marvell Technology, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold of… and Marvell Technology was not on the list.
While Marvell Technology currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here