Marvell Technology (NASDAQ:MRVL) Price Target Raised to $131.00

Marvell Technology (NASDAQ:MRVL) had its target price increased by equities researchers at The Goldman Sachs Group from $115.00 to $131.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 14.59% from the stock’s current price.

A number of other equities research analysts also recently issued reports on MRVL. Needham & Company LLC boosted their price target on Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Oppenheimer increased their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. TD Cowen lifted their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Stifel Nicolaus increased their price objective on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $121.28.

Marvell Technology Stock Down 3.3 %

Shares of NASDAQ MRVL opened at $114.32 on Friday. The stock has a market capitalization of $98.92 billion, a PE ratio of -67.25, a P/E/G ratio of 4.03 and a beta of 1.41. 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 firm has a fifty day moving average of $103.93 and a 200-day moving average of $82.88. Marvell Technology has a 52-week low of $53.19 and a 52-week high of $126.15.

Insider Activity at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $120,750.00. Following the completion of the sale, the chief financial officer now directly owns 110,253 shares in the company, valued at approximately $8,875,366.50. The trade was a 1.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew J. Murphy acquired 13,000 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was acquired at an average cost of $77.63 per share, with a total value of $1,009,190.00. Following the acquisition, the chief executive officer now owns 221,915 shares of the company’s stock, valued at $17,227,261.45. This trade represents a 6.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 180,000 shares of company stock valued at $15,163,420 over the last three months. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Marvell Technology

A number of large investors have recently bought and sold shares of MRVL. Citizens Financial Group Inc. RI lifted its holdings in shares of Marvell Technology by 1.5% in the 3rd 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 last quarter. Crumly & Associates Inc. increased its position in Marvell Technology by 1.5% in 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 during the period. United Capital Management of KS Inc. increased its position in Marvell Technology by 0.4% in the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock worth $2,470,000 after buying an additional 131 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in shares of Marvell Technology by 1.4% during the third 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 during the period. Finally, ASB Consultores LLC grew its position in shares of Marvell Technology by 3.8% during the third quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock worth $276,000 after acquiring an additional 140 shares during the last quarter. Institutional investors 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.