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

Marvell Technology (NASDAQ:MRVL) had its price target hoisted by stock analysts at KeyCorp from $95.00 to $125.00 in a report released on Wednesday,Briefing.com Automated Import reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s target price indicates a potential upside of 14.21% from the stock’s current price.

A number of other equities analysts have also recently weighed in on MRVL. B. Riley upped their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group boosted their price target on Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Bank of America raised their price objective on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup upped their target price on Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Loop Capital boosted their price objective on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $117.92.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $109.45 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. Marvell Technology has a 12-month low of $50.35 and a 12-month high of $109.45. The company has a market cap of $96.99 billion, a price-to-earnings ratio of -86.41, a price-to-earnings-growth ratio of 4.19 and a beta of 1.46. The stock has a 50 day simple moving average of $83.50 and a 200-day simple moving average of $74.73.

Insider Activity at Marvell Technology

In other news, 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 value of $177,075.00. Following the completion of the transaction, the executive vice president now directly owns 22,494 shares in the company, valued at approximately $1,593,250.02. This represents a 10.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 267,000 shares of company stock worth $20,899,260. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MRVL. Davidson Kempner Capital Management LP boosted its stake in shares of Marvell Technology by 26.5% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock valued at $17,482,000 after buying an additional 52,365 shares during the last quarter. Braun Stacey Associates Inc. acquired a new stake in Marvell Technology in the third quarter valued at $16,435,000. Charles Schwab Investment Management Inc. boosted its stake in Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after acquiring an additional 66,654 shares during the last quarter. Diversified Trust Co bought a new stake in shares of Marvell Technology in the 2nd quarter worth about $932,000. Finally, Silicon Valley Capital Partners increased its position in shares of Marvell Technology by 254.6% in the 3rd quarter. Silicon Valley Capital Partners now owns 32,978 shares of the semiconductor company’s stock worth $2,378,000 after purchasing an additional 23,678 shares during the last quarter. Hedge funds and other 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.