Marvell Technology (NASDAQ:MRVL) Price Target Raised to $110.00 at Oppenheimer

Marvell Technology (NASDAQ:MRVL) had its price target increased by Oppenheimer from $90.00 to $110.00 in a research report issued on Tuesday,Briefing.com Automated Import reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s price objective points to a potential upside of 19.25% from the company’s current price.

A number of other research firms have also recently commented on MRVL. Benchmark lifted their price target on shares of Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Friday. Piper Sandler reaffirmed an “overweight” rating and set a $100.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Loop Capital initiated coverage on Marvell Technology in a research note on Monday, November 11th. They set a “hold” rating and a $95.00 price target on the stock. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and an average price target of $92.68.

Marvell Technology Price Performance

MRVL stock opened at $92.24 on Tuesday. The company’s fifty day moving average price is $80.67 and its 200-day moving average price is $73.59. Marvell Technology has a one year low of $50.35 and a one year high of $95.09. The company has a market capitalization of $81.74 billion, a PE ratio of -83.10, a price-to-earnings-growth ratio of 4.02 and a beta of 1.44. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the company earned $0.18 EPS. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities analysts anticipate that Marvell Technology will post 0.78 EPS for the current fiscal year.

Insider Transactions at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the transaction, the executive vice president now owns 103,244 shares in the company, valued at approximately $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $73.87, for a total value of $110,805.00. Following the completion of the sale, the chief financial officer now owns 111,753 shares of the company’s stock, valued at $8,255,194.11. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 267,000 shares of company stock valued at $20,899,260 in the last 90 days. 0.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Citizens Financial Group Inc. RI raised its position 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 period. Crumly & Associates Inc. increased its stake 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 purchasing an additional 121 shares in the last quarter. United Capital Management of KS Inc. raised its position in shares of 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 worth $2,470,000 after purchasing an additional 131 shares during the last quarter. Tlwm lifted its stake 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 buying an additional 136 shares in the last quarter. Finally, Integrated Wealth Concepts LLC boosted its holdings 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 buying an additional 139 shares during the last quarter. Hedge funds and other institutional investors 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.