BidaskClub lowered shares of Marvell Technology Group (NASDAQ:MRVL) from a buy rating to a hold rating in a report published on Saturday morning.
MRVL has been the topic of a number of other reports. Citigroup raised shares of Marvell Technology Group from a sell rating to a neutral rating and set a $22.00 target price on the stock in a research note on Tuesday, November 7th. Oppenheimer reaffirmed a buy rating and issued a $23.00 target price on shares of Marvell Technology Group in a research note on Monday, November 6th. Benchmark raised shares of Marvell Technology Group from a hold rating to a buy rating and raised their target price for the company from $17.00 to $30.00 in a research note on Monday, November 20th. Cowen reaffirmed a buy rating on shares of Marvell Technology Group in a research note on Friday, October 13th. Finally, Bank of America raised shares of Marvell Technology Group from a neutral rating to a buy rating in a research note on Monday, November 20th. Eight research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $23.48.
Shares of Marvell Technology Group (NASDAQ:MRVL) traded down $0.16 during trading on Friday, hitting $22.18. 13,140,079 shares of the stock were exchanged, compared to its average volume of 14,025,624. Marvell Technology Group has a 52-week low of $13.59 and a 52-week high of $24.22. The stock has a market capitalization of $10,893.51, a P/E ratio of 23.85, a price-to-earnings-growth ratio of 1.35 and a beta of 1.12.
In other Marvell Technology Group news, major shareholder Sehat Sutardja sold 1,266,498 shares of Marvell Technology Group stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $18.55, for a total transaction of $23,493,537.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 17,558,035 shares of company stock worth $320,838,284 over the last three months. Insiders own 6.80% of the company’s stock.
Several hedge funds have recently bought and sold shares of MRVL. D.A. Davidson & CO. grew its holdings in shares of Marvell Technology Group by 10.2% in the second quarter. D.A. Davidson & CO. now owns 6,461 shares of the semiconductor company’s stock worth $106,000 after purchasing an additional 600 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Marvell Technology Group in the third quarter worth approximately $106,000. Massey Quick Simon & CO. LLC bought a new position in shares of Marvell Technology Group in the third quarter worth approximately $124,000. Creative Planning grew its holdings in shares of Marvell Technology Group by 39.8% in the second quarter. Creative Planning now owns 10,008 shares of the semiconductor company’s stock worth $165,000 after purchasing an additional 2,850 shares during the last quarter. Finally, Boothbay Fund Management LLC bought a new position in shares of Marvell Technology Group in the third quarter worth approximately $203,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION WARNING: “Marvell Technology Group (MRVL) Downgraded by BidaskClub to Hold” was originally posted by Community Financial News and is the property of of Community Financial News. If you are reading this article on another domain, it was illegally copied and republished in violation of United States and international copyright law. The legal version of this article can be accessed at https://www.com-unik.info/2017/12/03/marvell-technology-group-mrvl-downgraded-by-bidaskclub-to-hold.html.
About Marvell Technology Group
Marvell Technology Group Ltd. is a semiconductor provider of application-specific standard products. The Company is engaged in the design, development and sale of integrated circuits. The Company develops System-on-a-Chip (SoC) devices. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution.
What are top analysts saying about Marvell Technology Group Ltd.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Marvell Technology Group Ltd. and related companies.