Susquehanna Boosts Marvell Technology (NASDAQ:MRVL) Price Target to $125.00

Marvell Technology (NASDAQ:MRVL) had its price target raised by equities research analysts at Susquehanna from $110.00 to $125.00 in a research report issued on Wednesday, Marketbeat reports. The firm currently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s price target would indicate a potential upside of 10.26% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. Needham & Company LLC upped their price objective on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI raised their price objective on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday. Roth Mkm restated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. Benchmark reiterated a “buy” rating and set a $135.00 target price (up from $115.00) on shares of Marvell Technology in a research note on Wednesday. Finally, B. Riley lifted their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.04.

Marvell Technology Price Performance

Shares of MRVL stock opened at $113.37 on Wednesday. The firm has a fifty day simple moving average of $85.24 and a 200-day simple moving average of $75.30. The company has a market capitalization of $100.47 billion, a PE ratio of -66.69, a price-to-earnings-growth ratio of 4.15 and a beta of 1.46. Marvell Technology has a twelve month low of $50.35 and a twelve month high of $119.88. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28.

Insiders Place Their Bets

In other Marvell Technology news, Director Ford Tamer sold 92,000 shares of the company’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 completion of the transaction, the director now owns 351,193 shares in the company, valued at approximately $26,044,472.88. This represents a 20.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew J. Murphy sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $73.29, for a total value of $439,740.00. Following the sale, the chief executive officer now directly owns 208,915 shares in the company, valued at approximately $15,311,380.35. This trade represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,000 shares of company stock valued at $20,899,260 over the last three months. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Citizens Financial Group Inc. RI grew its position in Marvell Technology by 1.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock valued at $566,000 after buying an additional 116 shares in the last quarter. Crumly & Associates Inc. lifted its stake 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 acquiring an additional 121 shares during the period. United Capital Management of KS Inc. boosted its holdings in shares of Marvell Technology by 0.4% in the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after acquiring an additional 131 shares in the last quarter. Tlwm increased its stake in shares of Marvell Technology by 1.6% during the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock valued at $601,000 after acquiring an additional 136 shares during the period. Finally, Integrated Wealth Concepts LLC raised its holdings in Marvell Technology by 1.4% during the third quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock worth $716,000 after purchasing an additional 139 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

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.