Marvell Technology (NASDAQ:MRVL) Given New $113.00 Price Target at Morgan Stanley

Marvell Technology (NASDAQ:MRVL) had its price target lowered by investment analysts at Morgan Stanley from $120.00 to $113.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price target suggests a potential upside of 5.82% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Susquehanna upped their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a report on Wednesday, December 4th. Bank of America upped their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Citigroup upped their target price on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, UBS Group upped their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Price Performance

Shares of MRVL opened at $106.79 on Tuesday. The stock has a market cap of $92.41 billion, a PE ratio of -62.82, a price-to-earnings-growth ratio of 4.12 and a beta of 1.41. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The firm’s 50-day simple moving average is $110.97 and its two-hundred day simple moving average is $86.99.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the transaction, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,755 shares of company stock valued at $4,361,430. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Temasek Holdings Private Ltd lifted its holdings in shares of Marvell Technology by 581.8% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after acquiring an additional 1,911,532 shares during the last quarter. Holocene Advisors LP purchased a new position in shares of Marvell Technology in the 3rd quarter worth approximately $120,116,000. Van ECK Associates Corp grew its position in Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after purchasing an additional 1,570,050 shares during the last quarter. Perpetual Ltd grew its position in Marvell Technology by 3,405.3% during the 4th quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after purchasing an additional 682,457 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in Marvell Technology by 14.0% during the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after acquiring an additional 571,005 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

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.