Rosenblatt Securities Forecasts Strong Price Appreciation for Marvell Technology (NASDAQ:MRVL) Stock

Marvell Technology (NASDAQ:MRVL) had its price objective raised by equities researchers at Rosenblatt Securities from $120.00 to $140.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Rosenblatt Securities’ price objective indicates a potential upside of 23.49% from the company’s previous close.

MRVL has been the topic of a number of other reports. Evercore ISI raised their price objective on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Monday. Morgan Stanley raised their price objective on shares of Marvell Technology from $82.00 to $102.00 and gave the stock an “equal weight” rating in a report on Wednesday. Stifel Nicolaus reiterated a “buy” rating and set a $95.00 target price (up previously from $90.00) on shares of Marvell Technology in a report on Friday, August 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $119.04.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $113.37 on Wednesday. The stock’s 50-day moving average is $85.24 and its 200 day moving average is $75.30. The stock has a market cap of $100.47 billion, a price-to-earnings ratio of -66.69, a P/E/G ratio of 4.15 and a beta of 1.46. Marvell Technology has a 1-year low of $50.35 and a 1-year high of $119.88. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28.

Insider Activity at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $73.29, for a total value of $439,740.00. Following the completion of the transaction, the chief executive officer now directly owns 208,915 shares in the company, valued at $15,311,380.35. This represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $73.87, for a total transaction of $110,805.00. Following the sale, the chief financial officer now owns 111,753 shares in the company, valued at $8,255,194.11. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 267,000 shares of company stock worth $20,899,260. 0.33% of the stock is owned by company insiders.

Institutional Trading of Marvell Technology

Several institutional investors have recently made changes to their positions in MRVL. Citizens Financial Group Inc. RI boosted its stake in Marvell Technology by 1.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after purchasing an additional 116 shares during the period. Crumly & Associates Inc. boosted its position in shares of Marvell Technology by 1.5% during the third quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock worth $593,000 after acquiring an additional 121 shares during the last quarter. United Capital Management of KS Inc. grew its stake in Marvell Technology by 0.4% during the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after acquiring an additional 131 shares in the last quarter. Tlwm increased its holdings in Marvell Technology by 1.6% in the 2nd quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock valued at $601,000 after acquiring an additional 136 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its stake in Marvell Technology by 1.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock worth $716,000 after purchasing an additional 139 shares in 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.