Marvell Technology (NASDAQ:MRVL) Earns “Buy” Rating from Stifel Nicolaus

Marvell Technology (NASDAQ:MRVL)‘s stock had its “buy” rating reissued by stock analysts at Stifel Nicolaus in a research report issued on Wednesday, MarketBeat reports. They presently have a $125.00 price objective on the semiconductor company’s stock, up from their prior price objective of $114.00. Stifel Nicolaus’ price target would suggest a potential upside of 10.26% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley lifted their target price on shares of Marvell Technology from $82.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Oppenheimer upped their target price on Marvell Technology from $90.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Evercore ISI increased their target price on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a report on Monday. The Goldman Sachs Group boosted their price target on Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Rosenblatt Securities increased their price objective on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $119.04.

Marvell Technology Trading Down 4.0 %

Shares of MRVL stock opened at $113.37 on Wednesday. The stock has a market cap of $100.47 billion, a P/E ratio of -66.69, a P/E/G ratio of 4.15 and a beta of 1.46. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. Marvell Technology has a fifty-two week low of $50.35 and a fifty-two week high of $119.88. The business has a fifty day simple moving average of $85.24 and a 200-day simple moving average of $75.30.

Insiders Place Their Bets

In other news, insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the sale, the insider now owns 694,487 shares of the company’s stock, valued at $55,906,203.50. This represents a 17.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ford Tamer sold 92,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $74.16, for a total value of $6,822,720.00. Following the sale, the director now owns 351,193 shares in the company, valued at approximately $26,044,472.88. The trade was a 20.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,000 shares of company stock worth $20,899,260 over the last ninety days. 0.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Marvell Technology

A number of large investors have recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI lifted its holdings in 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 buying an additional 116 shares in the last quarter. Crumly & Associates Inc. increased its position in shares of 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 acquiring an additional 121 shares during the last quarter. United Capital Management of KS Inc. lifted its stake in shares of 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 acquiring an additional 131 shares in the last quarter. Tlwm boosted its holdings in Marvell Technology by 1.6% in the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock valued at $601,000 after purchasing an additional 136 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew its stake in Marvell Technology by 1.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock valued at $716,000 after purchasing an additional 139 shares in the last quarter. 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.