Marvell Technology (NASDAQ:MRVL) Price Target Raised to $115.00 at Barclays

Marvell Technology (NASDAQ:MRVL) had its price target lifted by equities research analysts at Barclays from $85.00 to $115.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. Barclays‘s target price would indicate a potential upside of 19.90% from the stock’s current price.

Several other equities analysts also recently weighed in on the stock. Evercore ISI raised their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday. Rosenblatt Securities lifted their target price on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday. TD Cowen raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, September 16th. Bank of America lifted their target price on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Needham & Company LLC lifted their target price on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus price target of $106.43.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $95.91 on Wednesday. The company’s 50-day moving average price is $83.50 and its 200-day moving average price is $74.73. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. The company has a market cap of $85.00 billion, a P/E ratio of -86.41, a P/E/G ratio of 4.19 and a beta of 1.46. Marvell Technology has a twelve month low of $50.35 and a twelve month high of $98.72.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now owns 114,211 shares in the company, valued at approximately $10,180,768.54. This represents a 1.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total transaction of $177,075.00. Following the completion of the transaction, the executive vice president now owns 22,494 shares of the company’s stock, valued at approximately $1,593,250.02. The trade was a 10.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 267,000 shares of company stock worth $20,899,260 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Large investors have recently bought and sold shares of the company. True Wealth Design LLC grew its stake in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Marvell Technology during the 2nd quarter worth $32,000. Quarry LP acquired a new position in shares of Marvell Technology during the 2nd quarter worth $32,000. Whittier Trust Co. grew its stake in shares of Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 210 shares during the period. Finally, Goodman Advisory Group LLC acquired a new position in shares of Marvell Technology during the 3rd quarter worth $37,000. Hedge funds and other 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.