By otakuyassine3@gmail.com 
Marvell Technology (NASDAQ:MRVL – Get Free Report) had its price target lowered by equities researchers at Morgan Stanley from $113.00 to $90.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective suggests a potential upside of 27.05% from the company’s current price.
Several other analysts have also commented on the stock. Wells Fargo & Company increased their price target on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Evercore ISI increased their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Melius started coverage on shares of Marvell Technology in a research report on Monday, January 27th. They issued a “buy” rating and a $188.00 price target on the stock. Stifel Nicolaus increased their price target on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Susquehanna increased their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.68.
Check Out Our Latest Analysis on Marvell Technology
Marvell Technology Trading Down 2.0 %
Shares of MRVL opened at $70.84 on Thursday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm’s 50-day moving average is $109.13 and its two-hundred day moving average is $93.67. Marvell Technology has a twelve month low of $53.19 and a twelve month high of $127.48. The firm has a market capitalization of $61.30 billion, a P/E ratio of -41.67, a PEG ratio of 1.61 and a beta of 1.40.
Insiders Place Their Bets
In related news, Director Brad W. Buss bought 3,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was bought 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 of the company’s stock, valued at approximately $6,010,797. This represents a 3.57 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the sale, the executive vice president now owns 97,244 shares in the company, valued at approximately $11,912,390. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 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 Investors Weigh In On Marvell Technology
Large investors have recently added to or reduced their stakes in the company. Castle Rock Wealth Management LLC lifted its holdings in Marvell Technology by 165.8% in the 4th quarter. Castle Rock Wealth Management LLC now owns 16,283 shares of the semiconductor company’s stock worth $1,734,000 after buying an additional 10,157 shares in the last quarter. Total Wealth Planning & Management Inc. acquired a new position in shares of Marvell Technology in the fourth quarter worth about $824,000. Menard Financial Group LLC acquired a new position in shares of Marvell Technology in the fourth quarter worth about $669,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Marvell Technology in the fourth quarter valued at about $105,450,000. Finally, Chelsea Counsel Co. purchased a new position in Marvell Technology in the fourth quarter valued at about $44,000. 83.51% of the stock is owned by institutional investors and hedge funds.
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.
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