Marvell Technology (NASDAQ:MRVL) Price Target Raised to $125.00

Marvell Technology (NASDAQ:MRVL) had its price target raised by equities researchers at TD Cowen from $90.00 to $125.00 in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s price objective suggests a potential upside of 30.33% from the stock’s current price.

MRVL has been the subject of a number of other reports. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Monday. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Susquehanna boosted their price target on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday. Benchmark restated a “buy” rating and set a $135.00 price objective (up previously from $115.00) on shares of Marvell Technology in a research note on Wednesday. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $107.96.

Marvell Technology Stock Performance

Marvell Technology stock opened at $95.91 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. Marvell Technology has a one year low of $50.35 and a one year high of $98.72. The stock’s 50 day moving average price is $83.50 and its 200 day moving average price is $74.73. The firm has a market capitalization of $85.00 billion, a PE ratio of -86.41, a price-to-earnings-growth ratio of 4.19 and a beta of 1.46.

Insider Activity

In related news, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the transaction, the insider now owns 694,487 shares of the company’s stock, valued at $55,906,203.50. This trade represents a 17.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the transaction, the executive vice president now owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. This trade represents a 5.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 267,000 shares of company stock worth $20,899,260 over the last three months. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

A number of hedge funds and other institutional investors have recently modified their holdings of MRVL. Mather Group LLC. lifted its stake in Marvell Technology by 18.8% during the second quarter. Mather Group LLC. now owns 5,270 shares of the semiconductor company’s stock valued at $374,000 after buying an additional 834 shares in the last quarter. CWM LLC raised its holdings in shares of Marvell Technology by 35.5% during the second quarter. CWM LLC now owns 21,362 shares of the semiconductor company’s stock valued at $1,493,000 after acquiring an additional 5,601 shares during the period. Valeo Financial Advisors LLC lifted its position in shares of Marvell Technology by 12.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 9,840 shares of the semiconductor company’s stock valued at $688,000 after acquiring an additional 1,105 shares in the last quarter. Csenge Advisory Group boosted its stake in Marvell Technology by 30.6% in the 2nd quarter. Csenge Advisory Group now owns 4,131 shares of the semiconductor company’s stock worth $289,000 after purchasing an additional 967 shares during the period. Finally, Register Financial Advisors LLC grew its position in Marvell Technology by 5.1% during the 2nd quarter. Register Financial Advisors LLC now owns 8,205 shares of the semiconductor company’s stock worth $574,000 after purchasing an additional 401 shares in the last quarter. Institutional investors and hedge funds 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.