KeyCorp Issues Pessimistic Forecast for Marvell Technology (NASDAQ:MRVL) Stock Price

Marvell Technology (NASDAQ:MRVL) had its price objective decreased by KeyCorp from $135.00 to $115.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s target price would suggest a potential upside of 62.34% from the stock’s previous close.

MRVL has been the subject of several other research reports. Summit Insights cut Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday. UBS Group raised their target price on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. TD Cowen decreased their target price on Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday. Loop Capital raised Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Thursday. Finally, Melius assumed coverage on Marvell Technology in a research report on Monday, January 27th. They issued a “buy” rating and a $188.00 target price for the company. Three equities research 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $121.68.

Marvell Technology Stock Performance

MRVL opened at $70.84 on Thursday. The firm has a market cap of $61.30 billion, a PE ratio of -41.67, a P/E/G ratio of 1.61 and a beta of 1.40. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $109.13 and a 200-day simple moving average of $93.67. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two week high of $127.48.

Insider Activity

In other Marvell Technology news, Director Brad W. Buss purchased 3,000 shares of the stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the transaction, the director now owns 87,113 shares in the company, valued at $6,010,797. This trade represents a 3.57 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the sale, the executive vice president now directly owns 97,244 shares in the company, valued at approximately $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Marvell Technology

Institutional investors have recently added to or reduced their stakes in the company. True Wealth Design LLC grew its position 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 worth $25,000 after buying an additional 326 shares in the last quarter. ORG Partners LLC grew its position in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after buying an additional 149 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Marvell Technology during the fourth quarter worth about $26,000. Rialto Wealth Management LLC acquired a new stake in Marvell Technology during the fourth quarter worth about $27,000. Finally, Kieckhefer Group LLC acquired a new stake in Marvell Technology during the fourth quarter worth about $33,000. 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.