Marvell Technology (NASDAQ:MRVL - Get Free Report) had its target price dropped by investment analysts at Bank of America from $150.00 to $120.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor company's stock. Bank of America's target price would indicate a potential upside of 69.40% from the company's current price.
A number of other equities research analysts have also recently weighed in on the company. Benchmark reaffirmed a "buy" rating and set a $135.00 price target on shares of Marvell Technology in a report on Thursday. Melius Research raised Marvell Technology to a "strong-buy" rating in a report on Monday, January 27th. Melius assumed coverage on Marvell Technology in a report on Monday, January 27th. They set a "buy" rating and a $188.00 price target on the stock. William Blair raised Marvell Technology to a "strong-buy" rating in a report on Wednesday, February 5th. Finally, Morgan Stanley reaffirmed an "equal weight" rating on shares of Marvell Technology in a report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Marvell Technology has an average rating of "Moderate Buy" and an average target price of $121.68.
Get Our Latest Stock Analysis on Marvell Technology
Marvell Technology Stock Performance
NASDAQ MRVL traded down $1.44 during trading hours on Thursday, reaching $70.84. The company's stock had a trading volume of 38,787,463 shares, compared to its average volume of 12,675,750. The business has a 50-day simple moving average of $108.27 and a 200 day simple moving average of $94.00. The stock has a market cap of $61.30 billion, a PE ratio of -41.67, a PEG ratio of 1.61 and a beta of 1.42. The company has a current ratio of 1.60, a quick ratio of 1.11 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.
Insiders Place Their Bets
In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the sale, the chief financial officer now directly owns 112,711 shares of the company's stock, valued at $13,807,097.50. The trade was a 1.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the sale, the executive vice president now directly owns 97,244 shares in the company, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,255 shares of company stock worth $4,330,980. Corporate insiders own 0.33% of the company's stock.
Institutional Trading of Marvell Technology
Large investors have recently added to or reduced their stakes in the company. True Wealth Design LLC raised its stake 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 raised its stake in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 149 shares during the period. Centricity Wealth Management LLC purchased a new position in shares of Marvell Technology during the 4th quarter valued at $26,000. Rialto Wealth Management LLC purchased a new position in shares of Marvell Technology during the 4th quarter valued at $27,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Marvell Technology during the 4th quarter valued at $33,000. 83.51% of the stock is owned by institutional investors and hedge funds.
Marvell Technology Company Profile
(
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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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