Marvell Technology (NASDAQ:MRVL) Price Target Lowered to $100.00 at Needham & Company LLC

Marvell Technology (NASDAQ:MRVL) had its price objective reduced by stock analysts at Needham & Company LLC from $120.00 to $100.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 10.94% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. Stifel Nicolaus upped their price target on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 6th. B. Riley upped their target price on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Summit Insights downgraded Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday. KeyCorp raised their price target on shares of Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, William Blair raised shares of Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $125.60.

Marvell Technology Trading Up 2.0 %

Shares of NASDAQ:MRVL opened at $90.14 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The firm has a market capitalization of $78.00 billion, a P/E ratio of -53.02, a P/E/G ratio of 1.61 and a beta of 1.40. The business’s 50-day moving average is $110.52 and its 200 day moving average is $93.84. Marvell Technology has a 1 year low of $53.19 and a 1 year high of $127.48.

Insider Transactions at Marvell Technology

In related news, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the transaction, the chief operating officer now directly owns 87,931 shares in the company, valued at approximately $9,351,461.85. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the sale, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock worth $4,330,980 in the last quarter. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MRVL. Swedbank AB boosted its position in shares of Marvell Technology by 1.0% during the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock worth $170,037,000 after purchasing an additional 23,680 shares during the period. Stephens Inc. AR lifted its stake in Marvell Technology by 16.2% during the third quarter. Stephens Inc. AR now owns 8,407 shares of the semiconductor company’s stock worth $606,000 after purchasing an additional 1,175 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Marvell Technology by 3.2% during the third quarter. Janney Montgomery Scott LLC now owns 123,031 shares of the semiconductor company’s stock worth $8,873,000 after buying an additional 3,855 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Marvell Technology by 83.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 141,994 shares of the semiconductor company’s stock valued at $10,241,000 after buying an additional 64,465 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in shares of Marvell Technology by 9.2% in the 3rd quarter. QRG Capital Management Inc. now owns 34,779 shares of the semiconductor company’s stock valued at $2,508,000 after buying an additional 2,940 shares during the period. 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.