Marvell Technology (NASDAQ:MRVL) Price Target Raised to $130.00 at Stifel Nicolaus

Marvell Technology (NASDAQ:MRVL) had its price target upped by analysts at Stifel Nicolaus from $125.00 to $130.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 11.85% from the stock’s previous close.

Several other research firms have also recently issued reports on MRVL. Susquehanna raised their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, December 4th. Barclays lifted their price target on shares of Marvell Technology from $85.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. UBS Group boosted their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Benchmark reaffirmed a “buy” rating and issued a $135.00 target price (up from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Finally, Evercore ISI boosted their price target on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.64.

Marvell Technology Stock Down 2.3 %

Shares of NASDAQ:MRVL opened at $116.23 on Monday. 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 has a market cap of $100.57 billion, a price-to-earnings ratio of -68.37, a PEG ratio of 4.03 and a beta of 1.41. The stock’s 50-day moving average price is $101.87 and its two-hundred day moving average price is $81.95. Marvell Technology has a 12-month low of $53.19 and a 12-month high of $126.15.

Insiders Place Their Bets

In other news, CEO Matthew J. Murphy acquired 13,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were purchased 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 of the company’s stock, valued at $17,227,261.45. This represents a 6.22 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology 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 transaction, the chief financial officer now owns 110,253 shares of the company’s stock, valued at approximately $8,875,366.50. The trade was a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 175,000 shares of company stock valued at $14,550,170 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

A number of institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC raised its stake in Marvell Technology by 38,460.2% during the second quarter. Acadian Asset Management LLC now owns 132,647 shares of the semiconductor company’s stock worth $9,267,000 after acquiring an additional 132,303 shares during the period. Caprock Group LLC raised its position in shares of Marvell Technology by 75.0% during the 2nd quarter. Caprock Group LLC now owns 8,993 shares of the semiconductor company’s stock worth $629,000 after purchasing an additional 3,855 shares during the period. Ballentine Partners LLC lifted its holdings in shares of Marvell Technology by 13.8% in the 2nd quarter. Ballentine Partners LLC now owns 6,208 shares of the semiconductor company’s stock worth $434,000 after purchasing an additional 751 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of Marvell Technology by 1,181.8% in the 2nd quarter. Quest Partners LLC now owns 1,128 shares of the semiconductor company’s stock worth $79,000 after purchasing an additional 1,040 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Marvell Technology during the 2nd quarter valued at approximately $76,000. 83.51% of the stock is owned by institutional investors and hedge funds.

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.