Melius Initiates Coverage on Marvell Technology (NASDAQ:MRVL)

Equities researchers at Melius began coverage on shares of Marvell Technology (NASDAQ:MRVL) in a note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $188.00 price target on the semiconductor company’s stock. Melius’ price objective would indicate a potential upside of 51.59% from the company’s current price.

A number of other analysts have also weighed in on MRVL. Barclays upped their price target on shares of Marvell Technology from $115.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. upped their target price on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Piper Sandler reissued an “overweight” rating and issued a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Finally, StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $127.88.

Marvell Technology Price Performance

Shares of MRVL opened at $124.02 on Monday. The firm has a market capitalization of $107.31 billion, a price-to-earnings ratio of -72.95, a price-to-earnings-growth ratio of 4.12 and a beta of 1.41. The stock’s fifty day moving average is $110.11 and its 200-day moving average is $86.44. Marvell Technology has a one year low of $53.19 and a one year high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the sale, the chief financial officer now owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael G. Strachan sold 5,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the transaction, the director now directly owns 30,959 shares in the company, valued at approximately $3,797,121.35. The trade was a 13.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,755 shares of company stock valued at $4,361,430 over the last three months. 0.33% of the stock is owned by corporate insiders.

Institutional Trading of Marvell Technology

Several large investors have recently added to or reduced their stakes in MRVL. True Wealth Design LLC lifted its stake in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the last quarter. ORG Partners LLC raised its holdings in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Marvell Technology in the second quarter worth about $32,000. Quarry LP bought a new stake in shares of Marvell Technology during the 2nd quarter worth about $32,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Marvell Technology during the 4th quarter valued at about $33,000. 83.51% of the stock is owned by institutional investors.

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.