Melius Research Upgrades Marvell Technology (NASDAQ:MRVL) to Strong-Buy

Marvell Technology (NASDAQ:MRVL) was upgraded by analysts at Melius Research to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other brokerages have also recently issued reports on MRVL. Bank of America increased 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, December 4th. TD Cowen increased their target price on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Loop Capital increased their target price on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Piper Sandler restated an “overweight” rating and issued a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Finally, Cantor Fitzgerald boosted their price target on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Stock Up 3.5 %

MRVL stock opened at $103.88 on Monday. The stock has a market capitalization of $89.89 billion, a price-to-earnings ratio of -61.11, a price-to-earnings-growth ratio of 4.12 and a beta of 1.41. The company has a 50-day moving average of $110.63 and a two-hundred day moving average of $86.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology has a 52-week low of $53.19 and a 52-week high of $127.48.

Insider Transactions at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the sale, the executive vice president now directly owns 93,931 shares in the company, valued at $11,685,016.40. This represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the transaction, the executive vice president now directly owns 24,706 shares of the company’s stock, valued at $2,791,778. The trade was a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock worth $4,361,430 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marvell Technology

Several institutional investors and hedge funds have recently modified their holdings of MRVL. Zweig DiMenna Associates LLC increased its holdings in shares of Marvell Technology by 6.3% in the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after purchasing an additional 12,700 shares in the last quarter. Berbice Capital Management LLC purchased a new stake in Marvell Technology during the fourth quarter valued at $637,000. RFG Advisory LLC increased its position in shares of Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after purchasing an additional 2,507 shares during the last quarter. Braun Stacey Associates Inc. bought a new stake in Marvell Technology in the third quarter worth about $16,435,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Marvell Technology by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after purchasing an additional 66,654 shares during the last quarter. 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.