Marvell Technology’s (MRVL) Buy Rating Reaffirmed at Stifel Nicolaus

Marvell Technology (NASDAQ:MRVL)‘s stock had its “buy” rating reaffirmed by equities researchers at Stifel Nicolaus in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $125.00 price objective on the semiconductor company’s stock, up from their prior price objective of $114.00. Stifel Nicolaus’ price target would indicate a potential upside of 30.33% from the company’s current price.

A number of other equities research analysts have also issued reports on MRVL. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Bank of America lifted their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday. Roth Mkm reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. The Goldman Sachs Group lifted their price objective on shares of Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.43.

Marvell Technology Trading Down 1.0 %

Shares of NASDAQ:MRVL opened at $95.91 on Wednesday. The firm has a fifty day moving average of $83.50 and a two-hundred day moving average of $74.73. The firm has a market capitalization of $85.00 billion, a P/E ratio of -86.41, a price-to-earnings-growth ratio of 4.19 and a beta of 1.46. Marvell Technology has a 12-month low of $50.35 and a 12-month high of $98.72. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28.

Insider Activity

In other Marvell Technology news, Director Ford Tamer sold 92,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $74.16, for a total value of $6,822,720.00. Following the transaction, the director now directly owns 351,193 shares in the company, valued at $26,044,472.88. The trade was a 20.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.87, for a total transaction of $110,805.00. Following the completion of the transaction, the chief financial officer now owns 111,753 shares in the company, valued at approximately $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. In the last three months, insiders have sold 267,000 shares of company stock worth $20,899,260. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its position in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $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 second quarter worth approximately $32,000. Quarry LP acquired a new position in shares of Marvell Technology during the second quarter worth approximately $32,000. Whittier Trust Co. lifted its position in shares of Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 210 shares in the last quarter. Finally, Goodman Advisory Group LLC acquired a new position in shares of Marvell Technology during the third quarter worth approximately $37,000. 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.