Morgan Stanley Forecasts Strong Price Appreciation for Marvell Technology (NASDAQ:MRVL) Stock

Marvell Technology (NASDAQ:MRVL - Get Free Report) had its price target raised by investment analysts at Morgan Stanley from $102.00 to $120.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the semiconductor company's stock. Morgan Stanley's price target indicates a potential upside of 7.24% from the company's current price.

A number of other analysts have also commented on the company. Citigroup lifted their price target on Marvell Technology from $91.00 to $112.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. B. Riley boosted their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. TD Cowen raised their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Barclays lifted their price target on shares of Marvell Technology from $85.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company increased their price objective on Marvell Technology from $110.00 to $130.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $119.76.

Marvell Technology Price Performance

Marvell Technology stock traded up $2.79 during mid-day trading on Friday, reaching $111.90. The company had a trading volume of 28,772,756 shares, compared to its average volume of 12,728,071. The business has a fifty day simple moving average of $93.17 and a 200 day simple moving average of $77.87. The company has a market cap of $96.83 billion, a P/E ratio of -65.82, a P/E/G ratio of 4.03 and a beta of 1.46. 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 fifty-two week low of $53.19 and a fifty-two week high of $126.15.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $120,750.00. Following the transaction, the chief financial officer now directly owns 110,253 shares of the company's stock, valued at $8,875,366.50. The trade was a 1.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew J. Murphy purchased 13,000 shares of the company's stock in a transaction that occurred on Monday, October 14th. The shares were purchased at an average cost of $77.63 per share, for a total transaction of $1,009,190.00. Following the completion of the transaction, the chief executive officer now directly owns 221,915 shares of the company's stock, valued at $17,227,261.45. This represents a 6.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 175,000 shares of company stock worth $14,444,745 over the last three months. 0.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Marvell Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI increased its holdings in shares of Marvell Technology by 1.5% in the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company's stock worth $566,000 after purchasing an additional 116 shares during the period. Crumly & Associates Inc. grew its position in Marvell Technology by 1.5% during the third quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company's stock worth $593,000 after buying an additional 121 shares in the last quarter. United Capital Management of KS Inc. increased its stake in Marvell Technology by 0.4% in the 3rd quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company's stock worth $2,470,000 after acquiring an additional 131 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Marvell Technology by 1.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company's stock valued at $716,000 after acquiring an additional 139 shares in the last quarter. Finally, ASB Consultores LLC boosted its position in shares of Marvell Technology by 3.8% during the 3rd quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company's stock valued at $276,000 after acquiring an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

About Marvell Technology

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.