Bank of America Increases Marvell Technology (NASDAQ:MRVL) Price Target to $125.00

Marvell Technology (NASDAQ:MRVL) had its price objective boosted by analysts at Bank of America from $108.00 to $125.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Bank of America‘s target price indicates a potential upside of 30.33% from the company’s previous close.

Other analysts have also issued reports about the company. TD Cowen raised Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Loop Capital initiated coverage on shares of Marvell Technology in a research note on Monday, November 11th. They set a “hold” rating and a $95.00 price target for the company. Rosenblatt Securities raised their price objective on shares of Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Susquehanna upped their target price on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “positive” rating in a report on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average target price of $101.65.

Marvell Technology Trading Down 1.0 %

MRVL opened at $95.91 on Wednesday. The company has a fifty day moving average price of $83.50 and a two-hundred day moving average price of $74.73. Marvell Technology has a 1-year low of $50.35 and a 1-year high of $98.72. The company has a market cap 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. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28.

Insider Buying and Selling at Marvell Technology

In related news, insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the sale, the insider now directly owns 694,487 shares in the company, valued at approximately $55,906,203.50. This represents a 17.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total transaction of $177,075.00. Following the completion of the transaction, the executive vice president now owns 22,494 shares of the company’s stock, valued at $1,593,250.02. This represents a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 267,000 shares of company stock valued at $20,899,260 over the last three months. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Marvell Technology

Institutional investors have recently added to or reduced their stakes in the stock. Mather Group LLC. lifted its holdings in shares of Marvell Technology by 18.8% in the second quarter. Mather Group LLC. now owns 5,270 shares of the semiconductor company’s stock worth $374,000 after buying an additional 834 shares in the last quarter. CWM LLC lifted its stake in Marvell Technology by 35.5% in the 2nd quarter. CWM LLC now owns 21,362 shares of the semiconductor company’s stock worth $1,493,000 after purchasing an additional 5,601 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in Marvell Technology by 12.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 9,840 shares of the semiconductor company’s stock valued at $688,000 after purchasing an additional 1,105 shares during the period. Csenge Advisory Group grew its position in shares of Marvell Technology by 30.6% during the 2nd quarter. Csenge Advisory Group now owns 4,131 shares of the semiconductor company’s stock valued at $289,000 after purchasing an additional 967 shares in the last quarter. Finally, Register Financial Advisors LLC increased its holdings in shares of Marvell Technology by 5.1% in the second quarter. Register Financial Advisors LLC now owns 8,205 shares of the semiconductor company’s stock worth $574,000 after purchasing an additional 401 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

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.