Marvell Technology (NASDAQ:MRVL) Stock Rating Upgraded by StockNews.com

Marvell Technology (NASDAQ:MRVL) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Other equities research analysts have also recently issued reports about the company. Oppenheimer boosted their price objective on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. UBS Group raised their price target on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Evercore ISI upped their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Loop Capital increased their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, Citigroup lifted their price objective on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $120.64.

Marvell Technology Price Performance

MRVL opened at $118.23 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’s fifty day moving average price is $101.87 and its two-hundred day moving average price is $81.95. Marvell Technology has a 1 year low of $53.19 and a 1 year high of $126.15. The company has a market capitalization of $102.30 billion, a price-to-earnings ratio of -69.55, a P/E/G ratio of 4.03 and a beta of 1.41.

Insider Activity

In other news, insider Muhammad Raghib Hussain sold 150,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew J. Murphy bought 13,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were acquired at an average price of $77.63 per share, with a total value of $1,009,190.00. Following the completion of the transaction, the chief executive officer now owns 221,915 shares of the company’s stock, valued at approximately $17,227,261.45. The trade was a 6.22 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 180,000 shares of company stock worth $15,163,420 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

A number of institutional investors have recently modified their holdings of the stock. True Wealth Design LLC increased its holdings in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 326 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Marvell Technology in the second quarter worth about $32,000. Quarry LP acquired a new position in Marvell Technology during the 2nd quarter valued at approximately $32,000. Whittier Trust Co. raised its stake in Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 210 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new stake in Marvell Technology in the third quarter valued at approximately $37,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

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.