Cantor Fitzgerald Boosts Marvell Technology (NASDAQ:MRVL) Price Target to $135.00

Marvell Technology (NASDAQ:MRVL) had its target price increased by analysts at Cantor Fitzgerald from $120.00 to $135.00 in a report released on Wednesday, Marketbeat reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 19.08% from the company’s current price.

A number of other research analysts also recently issued reports on MRVL. Oppenheimer increased their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Monday. Morgan Stanley increased their target price on shares of Marvell Technology from $82.00 to $102.00 and gave the stock an “equal weight” rating in a report on Wednesday. Craig Hallum boosted their price target on shares of Marvell Technology from $88.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, B. Riley increased their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $119.04.

Marvell Technology Trading Down 4.0 %

MRVL opened at $113.37 on Wednesday. The stock has a market capitalization of $100.47 billion, a P/E ratio of -66.69, a P/E/G ratio of 4.15 and a beta of 1.46. 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 $119.88. The firm’s fifty day simple moving average is $85.24 and its 200 day simple moving average is $75.30.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, insider Muhammad Raghib Hussain sold 150,000 shares of Marvell Technology stock in a transaction 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 completion of the transaction, the insider now directly owns 694,487 shares of the company’s stock, valued at $55,906,203.50. The trade was a 17.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was 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 $10,180,768.54. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 267,000 shares of company stock valued at $20,899,260 in the last quarter. 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 MRVL. True Wealth Design LLC raised its position in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Marvell Technology during the 2nd quarter worth $32,000. Quarry LP bought a new stake in shares of Marvell Technology during the 2nd quarter worth $32,000. Whittier Trust Co. boosted its stake in Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 210 shares in the last quarter. Finally, Goodman Advisory Group LLC bought a new position in Marvell Technology in the third quarter valued at about $37,000. Institutional investors and hedge funds 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.