Barclays Boosts Marvell Technology (NASDAQ:MRVL) Price Target to $150.00

Marvell Technology (NASDAQ:MRVL) had its price objective upped by equities research analysts at Barclays from $115.00 to $150.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. Barclays‘s price objective suggests a potential upside of 27.57% from the stock’s previous close.

A number of other equities research analysts have also commented on MRVL. Benchmark restated a “buy” rating and set a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. The Goldman Sachs Group lifted their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. B. Riley lifted their price objective on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upped their target price on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.08.

Marvell Technology Price Performance

MRVL opened at $117.58 on Friday. The firm has a market capitalization of $101.74 billion, a P/E ratio of -69.16, a PEG ratio of 3.76 and a beta of 1.41. The stock has a fifty day moving average of $106.09 and a 200-day moving average of $84.09. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology has a 12-month low of $53.19 and a 12-month high of $126.15.

Insider Buying and Selling at Marvell Technology

In other news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the sale, the executive vice president now directly owns 24,706 shares in the company, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the transaction, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. This trade represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,500 shares of company stock valued at $2,967,670 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Several institutional investors have recently made changes to their positions in the business. ORG Partners LLC raised its position in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Kieckhefer Group LLC acquired a new position in shares of Marvell Technology in the 4th quarter worth approximately $33,000. True Wealth Design LLC lifted its position 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 buying an additional 326 shares during the period. Quarry LP acquired a new stake in Marvell Technology in the 2nd quarter valued at $32,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Marvell Technology in the second quarter valued at $32,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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.