Marvell Technology (NASDAQ:MRVL - Get Free Report) had its price target lowered by stock analysts at Susquehanna from $110.00 to $90.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "positive" rating on the semiconductor company's stock. Susquehanna's target price would suggest a potential upside of 41.22% from the company's current price.
Other research analysts have also recently issued reports about the company. Morgan Stanley lowered their target price on Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company restated an "overweight" rating on shares of Marvell Technology in a report on Thursday, March 6th. Raymond James set a $110.00 target price on Marvell Technology in a report on Thursday, March 6th. Needham & Company LLC lowered their target price on Marvell Technology from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Finally, Melius Research cut Marvell Technology from a "strong-buy" rating to a "hold" rating and set a $66.00 target price on the stock. in a report on Thursday, May 22nd. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Marvell Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.32.
Check Out Our Latest Stock Report on MRVL
Marvell Technology Price Performance
MRVL stock traded down $0.86 during trading on Tuesday, hitting $63.73. The stock had a trading volume of 38,550,281 shares, compared to its average volume of 14,404,490. 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 twelve month low of $47.09 and a twelve month high of $127.48. The stock has a market capitalization of $55.05 billion, a P/E ratio of -37.49, a PEG ratio of 1.61 and a beta of 1.83. The company's 50-day moving average price is $58.96 and its two-hundred day moving average price is $87.09.
Insider Buying and Selling
In related news, EVP Mark Casper sold 12,460 shares of the business's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Panteha Dixon sold 1,239 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $65.01, for a total transaction of $80,547.39. Following the transaction, the chief accounting officer now owns 30,855 shares of the company's stock, valued at approximately $2,005,883.55. The trade was a 3.86% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,541 shares of company stock worth $2,079,948. Corporate insiders own 0.33% of the company's stock.
Hedge Funds Weigh In On Marvell Technology
A number of institutional investors and hedge funds have recently modified their holdings of MRVL. Centricity Wealth Management LLC acquired a new position in Marvell Technology in the fourth quarter valued at $26,000. Hughes Financial Services LLC purchased a new stake in shares of Marvell Technology in the first quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Marvell Technology in the fourth quarter valued at about $27,000. Rossby Financial LCC purchased a new stake in shares of Marvell Technology in the first quarter valued at about $27,000. Finally, Financial Connections Group Inc. raised its holdings in Marvell Technology by 776.0% during the first quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 388 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.
Marvell Technology Company Profile
(
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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.
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