Marvell Technology (NASDAQ:MRVL) Given New $110.00 Price Target at Oppenheimer

Marvell Technology (NASDAQ:MRVL) had its price objective increased by Oppenheimer from $90.00 to $110.00 in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The brokerage presently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s price target would indicate a potential upside of 19.25% from the stock’s current price.

Other equities analysts have also issued research reports about the company. TD Cowen raised Marvell Technology to a “strong-buy” rating in a research note on Monday, September 16th. Benchmark boosted their price target on shares of Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Stifel Nicolaus restated a “buy” rating and set a $95.00 price objective (up from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Loop Capital started coverage on shares of Marvell Technology in a report on Monday, November 11th. They issued a “hold” rating and a $95.00 target price on the stock. Finally, Rosenblatt Securities increased their price target on Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.68.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $92.24 on Tuesday. The firm has a 50-day simple moving average of $80.67 and a 200-day simple moving average of $73.59. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $81.74 billion, a price-to-earnings ratio of -83.10, a price-to-earnings-growth ratio of 4.02 and a beta of 1.44. Marvell Technology has a 52 week low of $50.35 and a 52 week high of $95.09.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. Marvell Technology’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. On average, equities analysts predict that Marvell Technology will post 0.78 earnings per share for the current fiscal year.

Insider Activity at Marvell Technology

In other news, Director Ford Tamer sold 92,000 shares of Marvell Technology stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $74.16, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders sold 267,000 shares of company stock valued at $20,899,260 over the last three months. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marvell Technology

A number of institutional investors have recently modified their holdings of the business. Citizens Financial Group Inc. RI grew its position in Marvell Technology by 1.5% during 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. boosted its stake 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 buying an additional 121 shares during the period. United Capital Management of KS Inc. grew its holdings in shares of Marvell Technology by 0.4% during 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 last quarter. Tlwm increased its position in Marvell Technology by 1.6% in the 2nd quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock valued at $601,000 after acquiring an additional 136 shares during the period. Finally, Integrated Wealth Concepts LLC raised 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 acquiring an additional 139 shares during 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.