Marvell Technology (NASDAQ:MRVL) Stock Price Expected to Rise, Craig Hallum Analyst Says

Marvell Technology (NASDAQ:MRVL) had its target price boosted by research analysts at Craig Hallum from $88.00 to $132.00 in a report issued on Wednesday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s target price indicates a potential upside of 37.63% from the company’s current price.

MRVL has been the topic of a number of other research reports. Evercore ISI lifted their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday. TD Cowen lifted their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday. Oppenheimer lifted their price target on shares of Marvell Technology from $90.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Loop Capital assumed coverage on shares of Marvell Technology in a research note on Monday, November 11th. They set a “hold” rating and a $95.00 target price for the company. Finally, Susquehanna lifted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.04.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $95.91 on Wednesday. The firm has a market cap of $85.00 billion, a PE ratio of -86.41, a price-to-earnings-growth ratio of 4.19 and a beta of 1.46. The firm’s fifty day moving average is $83.50 and its 200-day moving average is $74.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. Marvell Technology has a 52 week low of $50.35 and a 52 week high of $98.72.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’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 transaction, the chief financial officer now directly owns 114,211 shares in the company, valued at $10,180,768.54. The trade was a 1.30 % decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the transaction, the insider now owns 694,487 shares in the company, valued at approximately $55,906,203.50. The trade was a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 267,000 shares of company stock worth $20,899,260 over the last three months. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Marvell Technology

Hedge funds and other institutional investors have recently modified their holdings of the business. Davidson Kempner Capital Management LP raised its position in shares of Marvell Technology by 26.5% in the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock valued at $17,482,000 after purchasing an additional 52,365 shares during the period. Braun Stacey Associates Inc. bought a new stake in shares of Marvell Technology in the third quarter valued at approximately $16,435,000. Charles Schwab Investment Management Inc. raised its position in shares of Marvell Technology by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after purchasing an additional 66,654 shares during the period. Diversified Trust Co bought a new stake in shares of Marvell Technology in the second quarter valued at approximately $932,000. Finally, Silicon Valley Capital Partners raised its position in shares of Marvell Technology by 254.6% in the third quarter. Silicon Valley Capital Partners now owns 32,978 shares of the semiconductor company’s stock valued at $2,378,000 after purchasing an additional 23,678 shares during the period. Institutional investors own 83.51% of the company’s stock.

About Marvell Technology

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.