Barclays Lowers Marvell Technology (NASDAQ:MRVL) Price Target to $130.00

Marvell Technology (NASDAQ:MRVL - Get Free Report) had its target price dropped by Barclays from $150.00 to $130.00 in a report released on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the semiconductor company's stock. Barclays's price objective indicates a potential upside of 83.51% from the company's current price.

A number of other equities analysts also recently issued reports on MRVL. William Blair raised Marvell Technology to a "strong-buy" rating in a report on Wednesday, February 5th. TD Cowen lowered their price target on Marvell Technology from $125.00 to $95.00 and set a "buy" rating for the company in a report on Thursday. KeyCorp lowered their price target on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday. Melius assumed coverage on Marvell Technology in a report on Monday, January 27th. They issued a "buy" rating and a $188.00 price target for the company. Finally, Loop Capital raised Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price target for the company in a report on Thursday. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $121.68.

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Marvell Technology Stock Down 2.0 %

MRVL traded down $1.44 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 stock has a 50 day moving average of $108.27 and a two-hundred day moving average of $94.00. 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 company has a market capitalization of $61.30 billion, a price-to-earnings ratio of -41.67, a P/E/G ratio of 1.61 and a beta of 1.42. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two week high of $127.48.

Insider Buying and Selling

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company'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 sale, the chief financial officer now owns 112,711 shares of the company's stock, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the sale, the executive vice president now directly owns 24,706 shares in the company, valued at $2,791,778. This trade represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock valued at $4,330,980 over the last quarter. Company insiders own 0.33% of the company's stock.

Institutional Trading of Marvell Technology

Large investors have recently bought and sold shares of the company. Zweig DiMenna Associates LLC grew its holdings in Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock valued at $23,583,000 after purchasing an additional 12,700 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in shares of Marvell Technology during the fourth quarter valued at $637,000. RFG Advisory LLC boosted its stake in shares of Marvell Technology by 6.2% during the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock valued at $4,708,000 after acquiring an additional 2,507 shares during the last quarter. Braun Stacey Associates Inc. acquired a new stake in shares of Marvell Technology during the third quarter valued at $16,435,000. Finally, Charles Schwab Investment Management Inc. boosted its stake 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 valued at $235,247,000 after acquiring an additional 66,654 shares during the last quarter. 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.