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StockNews.com Upgrades Marvell Technology (NASDAQ:MRVL) to "Hold"

Marvell Technology logo with Computer and Technology background

Marvell Technology (NASDAQ:MRVL - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Thursday.

A number of other research analysts have also weighed in on the stock. KeyCorp raised their price target on shares of Marvell Technology from $95.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Citigroup lifted their price target on Marvell Technology from $91.00 to $112.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Cantor Fitzgerald boosted their price target on Marvell Technology from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. B. Riley raised their price objective on Marvell Technology from $105.00 to $135.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group upped their target price on shares of Marvell Technology from $87.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $120.64.

Check Out Our Latest Stock Analysis on MRVL

Marvell Technology Price Performance

Marvell Technology stock traded up $2.00 during trading on Thursday, reaching $118.23. The company had a trading volume of 8,362,899 shares, compared to its average volume of 11,032,892. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm's 50-day simple moving average is $102.58 and its 200 day simple moving average is $82.20. The firm has a market capitalization of $102.30 billion, a PE ratio of -69.55, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. Marvell Technology has a 1-year low of $53.19 and a 1-year high of $126.15.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy purchased 13,000 shares of the company's stock in a transaction on Monday, October 14th. The stock was acquired at an average price of $77.63 per share, for a total transaction of $1,009,190.00. Following the completion of the purchase, the chief executive officer now directly owns 221,915 shares in the company, valued at approximately $17,227,261.45. The trade was a 6.22 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael G. Strachan sold 5,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the sale, the director now owns 30,959 shares in the company, valued at approximately $3,797,121.35. The trade was a 13.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 180,000 shares of company stock worth $15,163,420 over the last ninety days. Company insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Marvell Technology

Several large investors have recently bought and sold shares of MRVL. True Wealth Design LLC grew its position in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock worth $25,000 after buying an additional 326 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Marvell Technology in the 2nd quarter valued at approximately $32,000. Quarry LP acquired a new stake in shares of Marvell Technology in the 2nd quarter valued at $32,000. Whittier Trust Co. lifted its position in shares of Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 210 shares during the last quarter. Finally, Goodman Advisory Group LLC acquired a new position in shares of Marvell Technology during the third quarter worth $37,000. Hedge funds and other institutional investors own 83.51% of the company's stock.

About Marvell Technology

(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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Analyst Recommendations for Marvell Technology (NASDAQ:MRVL)

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