Marvell Technology (NASDAQ:MRVL - Get Free Report) had its price objective lowered by research analysts at Morgan Stanley from $113.00 to $90.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the semiconductor company's stock. Morgan Stanley's price objective indicates a potential upside of 27.05% from the company's current price.
MRVL has been the subject of a number of other reports. Needham & Company LLC decreased their price objective on Marvell Technology from $120.00 to $100.00 and set a "buy" rating for the company in a report on Thursday. Barclays reissued an "overweight" rating on shares of Marvell Technology in a report on Friday, February 14th. Loop Capital raised Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price objective for the company in a report on Thursday. Benchmark reissued a "buy" rating and issued a $135.00 price objective on shares of Marvell Technology in a report on Thursday. Finally, Bank of America decreased their price objective on Marvell Technology from $150.00 to $120.00 and set a "buy" rating for the company in a report on Thursday. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology has a consensus rating of "Moderate Buy" and an average price target of $121.68.
View Our Latest Report on MRVL
Marvell Technology Stock Performance
Shares of NASDAQ:MRVL traded down $1.44 during trading on Thursday, hitting $70.84. 38,787,463 shares of the company traded hands, compared to its average volume of 12,675,750. The stock has a market capitalization of $61.30 billion, a price-to-earnings ratio of -41.67, a PEG ratio of 1.61 and a beta of 1.42. The business's fifty day moving average is $108.27 and its 200-day moving average is $94.00. Marvell Technology has a one year low of $53.19 and a one year high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.
Insider Activity
In other Marvell Technology news, Director Brad W. Buss bought 3,000 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of $69.00 per share, with a total value of $207,000.00. Following the completion of the transaction, the director now directly owns 87,113 shares in the company, valued at approximately $6,010,797. This represents a 3.57 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 112,711 shares of the company's stock, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,255 shares of company stock worth $4,330,980. Insiders own 0.33% of the company's stock.
Institutional Trading of Marvell Technology
Hedge funds and other institutional investors have recently modified their holdings of the business. Zweig DiMenna Associates LLC boosted its position in shares of Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock worth $23,583,000 after buying an additional 12,700 shares during the period. Berbice Capital Management LLC acquired a new stake in shares of Marvell Technology in the fourth quarter worth $637,000. RFG Advisory LLC boosted its position in shares of Marvell Technology by 6.2% in the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock worth $4,708,000 after buying an additional 2,507 shares during the period. Braun Stacey Associates Inc. acquired a new stake in shares of Marvell Technology in the third quarter worth $16,435,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company's stock worth $235,247,000 after acquiring an additional 66,654 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.
Marvell Technology Company Profile
(
Get Free Report)
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.
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