Morgan Stanley Has Lowered Expectations for Marvell Technology (NASDAQ:MRVL) Stock Price

Marvell Technology (NASDAQ:MRVL) had its target price reduced by stock analysts at Morgan Stanley from $120.00 to $113.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s target price would indicate a potential upside of 9.70% from the stock’s previous close.

A number of other brokerages have also commented on MRVL. Melius started coverage on Marvell Technology in a report on Monday. They set a “buy” rating and a $188.00 price target on the stock. Cantor Fitzgerald lifted their price target on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. KeyCorp lifted their price target on Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. B. Riley boosted their target price on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Oppenheimer boosted their target price on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Stock Up 2.7 %

Shares of NASDAQ:MRVL traded up $2.68 during mid-day trading on Tuesday, hitting $103.01. 10,764,837 shares of the company traded hands, compared to its average volume of 12,369,494. The stock has a market cap of $89.13 billion, a P/E ratio of -60.60, a P/E/G ratio of 4.12 and a beta of 1.41. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology has a 12-month low of $53.19 and a 12-month high of $127.48. The stock has a 50-day moving average price of $110.34 and a two-hundred day moving average price of $86.64.

Insiders Place Their Bets

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the sale, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. This trade represents a 5.49 % decrease in their position. The sale 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 firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the sale, the chief financial officer now owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,755 shares of company stock valued at $4,361,430. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp raised its position in shares of Marvell Technology by 30.8% during the 2nd quarter. Mackenzie Financial Corp now owns 73,644 shares of the semiconductor company’s stock valued at $5,148,000 after buying an additional 17,342 shares during the period. Creative Planning raised its position in shares of Marvell Technology by 4.1% during the 2nd quarter. Creative Planning now owns 75,454 shares of the semiconductor company’s stock valued at $5,274,000 after buying an additional 2,982 shares during the period. NewEdge Advisors LLC raised its position in shares of Marvell Technology by 30.9% during the 2nd quarter. NewEdge Advisors LLC now owns 129,643 shares of the semiconductor company’s stock valued at $9,062,000 after buying an additional 30,596 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Marvell Technology by 12.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 249,422 shares of the semiconductor company’s stock valued at $17,435,000 after buying an additional 27,553 shares during the period. Finally, Quarry LP purchased a new stake in shares of Marvell Technology during the 2nd quarter valued at approximately $32,000. 83.51% of the stock is owned by hedge funds and other 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.