Marvell Technology (NASDAQ:MRVL) Price Target Raised to $140.00 at Wells Fargo & Company

Marvell Technology (NASDAQ:MRVL) had its price target upped by research analysts at Wells Fargo & Company from $130.00 to $140.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 22.08% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday. B. Riley lifted their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley upped their target price on shares of Marvell Technology from $102.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. TD Cowen raised their target price on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $121.68.

Marvell Technology Stock Performance

Shares of MRVL stock traded up $0.36 during trading hours on Monday, hitting $114.68. The stock had a trading volume of 3,281,885 shares, compared to its average volume of 9,835,844. The stock’s 50 day moving average is $103.93 and its 200 day moving average is $82.88. The firm has a market capitalization of $99.23 billion, a PE ratio of -67.46, a PEG ratio of 4.03 and a beta of 1.41. Marvell Technology has a twelve month low of $53.19 and a twelve month high of $126.15. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Insider Buying and Selling

In other news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the transaction, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. The trade was a 5.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the 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 $12,075,000.00. Following the sale, the insider now owns 694,487 shares in the company, valued at approximately $55,906,203.50. This trade represents a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 180,000 shares of company stock valued at $15,163,420. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Several large investors have recently made changes to their positions in the business. Ameriprise Financial Inc. lifted its position in Marvell Technology by 24.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after buying an additional 2,254,610 shares in the last quarter. Temasek Holdings Private Ltd boosted its stake in Marvell Technology by 581.8% in the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after acquiring an additional 1,911,532 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Marvell Technology during the third quarter worth $120,116,000. Van ECK Associates Corp increased its holdings in Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after purchasing an additional 1,570,050 shares during the last quarter. Finally, D1 Capital Partners L.P. acquired a new position in Marvell Technology in the second quarter valued at about $108,204,000. Institutional investors own 83.51% of the company’s stock.

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.