Stifel Nicolaus Lowers Marvell Technology (NASDAQ:MRVL) Price Target to $115.00

Marvell Technology (NASDAQ:MRVL) had its price objective lowered by equities researchers at Stifel Nicolaus from $130.00 to $115.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 62.34% from the company’s current price.

A number of other brokerages have also commented on MRVL. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. JPMorgan Chase & Co. raised their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Piper Sandler dropped their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday. Wells Fargo & Company raised their price objective on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Barclays dropped their price objective on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday. Three investment 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $121.68.

Marvell Technology Trading Down 2.0 %

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

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the sale, the chief financial officer now owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the sale, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at $11,912,390. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock worth $4,330,980 in the last ninety days. Insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Intrepid Financial Planning Group LLC boosted its holdings in shares of Marvell Technology by 0.3% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock worth $2,860,000 after buying an additional 90 shares during the period. PDS Planning Inc boosted its holdings in Marvell Technology by 3.3% in the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock valued at $319,000 after purchasing an additional 92 shares during the period. Lodestone Wealth Management LLC boosted its holdings in Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after purchasing an additional 93 shares during the period. Valley National Advisers Inc. boosted its holdings in Marvell Technology by 0.4% in the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after purchasing an additional 96 shares during the period. Finally, Private Trust Co. NA boosted its holdings in Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock valued at $414,000 after purchasing an additional 97 shares during the period. Institutional investors own 83.51% of the company’s stock.

About Marvell Technology

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.