Morgan Stanley Lowers Marvell Technology (NASDAQ:MRVL) Price Target to $113.00

Marvell Technology (NASDAQ:MRVL) had its price objective decreased by stock analysts at Morgan Stanley from $120.00 to $113.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price target points to a potential upside of 9.70% from the company’s previous close.

MRVL has been the topic of several other research reports. Cantor Fitzgerald boosted their target price on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. KeyCorp boosted their target price on Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Susquehanna increased their price target on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th. Oppenheimer increased their price target on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Melius Research upgraded Marvell Technology to a “strong-buy” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Stock Up 2.7 %

Shares of MRVL traded up $2.68 on Tuesday, hitting $103.01. The company’s stock had a trading volume of 10,764,837 shares, compared to its average volume of 12,369,494. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm’s fifty day moving average price is $110.34 and its 200-day moving average price is $86.64. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The firm has a market capitalization of $89.13 billion, a price-to-earnings ratio of -60.60, a P/E/G ratio of 4.12 and a beta of 1.41.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the transaction, the chief financial officer now directly owns 114,211 shares in the company, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now owns 93,931 shares of the company’s stock, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Marvell Technology

Several large investors have recently added to or reduced their stakes in the business. State Street Corp grew its stake in Marvell Technology by 0.3% during 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 period. Geode Capital Management LLC grew its stake in Marvell Technology by 2.0% in the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock valued at $818,916,000 after acquiring an additional 219,692 shares during the period. Wellington Management Group LLP grew its stake in Marvell Technology by 4.3% in the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after acquiring an additional 359,005 shares during the period. Van ECK Associates Corp grew its stake in Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after acquiring an additional 1,570,050 shares during the period. Finally, Clearbridge Investments LLC grew its stake in Marvell Technology by 3.0% in the second quarter. Clearbridge Investments LLC now owns 5,189,682 shares of the semiconductor company’s stock valued at $362,759,000 after acquiring an additional 150,109 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Company Profile

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.