Marvell Technology (NASDAQ:MRVL) Earns Buy Rating from Analysts at Melius

Equities research analysts at Melius assumed coverage on shares of Marvell Technology (NASDAQ:MRVL) in a report released on Monday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $188.00 price target on the semiconductor company’s stock. Melius’ price target indicates a potential upside of 51.59% from the company’s previous close.

Several other analysts have also recently commented on the company. Susquehanna lifted their price target on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. Barclays upped their price target on shares of Marvell Technology from $115.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. lifted their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Citigroup upped their price objective on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, TD Cowen lifted their target price on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $127.88.

Marvell Technology Price Performance

MRVL stock opened at $124.02 on Monday. The stock has a market capitalization of $107.31 billion, a price-to-earnings ratio of -72.95, a price-to-earnings-growth ratio of 4.12 and a beta of 1.41. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology has a 52-week low of $53.19 and a 52-week high of $127.48. The stock’s fifty day simple moving average is $110.11 and its 200-day simple moving average is $86.44.

Insider Buying and Selling at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the sale, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,755 shares of company stock valued at $4,361,430 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Several institutional investors have recently added to or reduced their stakes in the business. True Wealth Design LLC boosted its position in Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the period. ORG Partners LLC lifted its stake in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Marvell Technology during the second quarter valued at $32,000. Quarry LP acquired a new stake in shares of Marvell Technology in the 2nd quarter worth about $32,000. Finally, Kieckhefer Group LLC bought a new stake in Marvell Technology in the 4th quarter valued at about $33,000. 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.