Piper Sandler Has Lowered Expectations for Marvell Technology (NASDAQ:MRVL) Stock Price

Marvell Technology (NASDAQ:MRVL) had its price objective lowered by equities researchers at Piper Sandler from $120.00 to $95.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. Piper Sandler’s price target would suggest a potential upside of 34.11% from the company’s previous close.

MRVL has been the topic of several other reports. TD Cowen cut their target price on Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock 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 on the stock in a research report on Thursday. Susquehanna raised their price objective on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. Stifel Nicolaus raised their price objective on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, B. Riley raised their price objective on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus target price of $121.68.

Marvell Technology Trading Down 2.0 %

Shares of MRVL opened at $70.84 on Thursday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $61.30 billion, a P/E ratio of -41.67, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The stock’s fifty day simple moving average is $109.13 and its 200 day simple moving average is $93.67. Marvell Technology has a twelve month low of $53.19 and a twelve month high of $127.48.

Insider Buying and Selling

In related news, Director Brad W. Buss bought 3,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the purchase, the director now directly owns 87,113 shares in the company, valued at approximately $6,010,797. The trade was a 3.57 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the transaction, the executive vice president now owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,255 shares of company stock worth $4,330,980. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Castle Rock Wealth Management LLC boosted its position in shares of Marvell Technology by 165.8% during the fourth quarter. Castle Rock Wealth Management LLC now owns 16,283 shares of the semiconductor company’s stock worth $1,734,000 after buying an additional 10,157 shares during the period. Total Wealth Planning & Management Inc. acquired a new position in shares of Marvell Technology during the fourth quarter worth approximately $824,000. Menard Financial Group LLC acquired a new position in shares of Marvell Technology during the fourth quarter worth approximately $669,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Marvell Technology during the fourth quarter worth approximately $105,450,000. Finally, Chelsea Counsel Co. acquired a new position in shares of Marvell Technology during the fourth quarter worth approximately $44,000. 83.51% of the stock is currently 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.