Marvell Technology (NASDAQ:MRVL) Price Target Raised to $135.00 at KeyCorp

Marvell Technology (NASDAQ:MRVL) had its price objective raised by research analysts at KeyCorp from $125.00 to $135.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s price target points to a potential upside of 7.09% from the company’s current price.

MRVL has been the topic of several other research reports. Barclays raised their price objective on shares of Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Craig Hallum lifted their price objective on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Rosenblatt Securities lifted their price target on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Benchmark reissued a “buy” rating and set a $135.00 price objective (up previously from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Finally, Evercore ISI lifted their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $125.38.

Marvell Technology Stock Performance

Marvell Technology stock opened at $126.06 on Wednesday. The firm’s 50 day simple moving average is $108.68 and its 200 day simple moving average is $85.65. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology has a 1-year low of $53.19 and a 1-year high of $127.48. The firm has a market capitalization of $109.08 billion, a PE ratio of -74.15, a price-to-earnings-growth ratio of 4.07 and a beta of 1.41.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at approximately $10,180,768.54. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the sale, the executive vice president now directly owns 103,244 shares in the company, valued at $9,203,170.16. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,755 shares of company stock worth $4,361,430 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. Tsfg LLC lifted its holdings in shares of Marvell Technology by 7.5% in the 4th quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock valued at $176,000 after acquiring an additional 111 shares during the last quarter. Citizens Financial Group Inc. RI increased its stake in Marvell Technology by 1.5% during the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after acquiring an additional 116 shares during the last quarter. Patton Albertson Miller Group LLC raised its position in Marvell Technology by 1.6% during the fourth quarter. Patton Albertson Miller Group LLC now owns 7,500 shares of the semiconductor company’s stock valued at $828,000 after purchasing an additional 120 shares during the period. Crumly & Associates Inc. boosted its holdings in shares of Marvell Technology by 1.5% in the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock worth $593,000 after purchasing an additional 121 shares during the period. Finally, United Capital Management of KS Inc. raised its holdings in Marvell Technology by 0.4% during the 3rd quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after buying an additional 131 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

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.