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

Marvell Technology (NASDAQ:MRVL - Get Free Report) had its target price dropped by stock analysts at Susquehanna from $110.00 to $90.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "positive" rating on the semiconductor company's stock. Susquehanna's price objective indicates a potential upside of 37.34% from the company's previous close.

MRVL has been the subject of several other reports. Melius Research downgraded Marvell Technology from a "strong-buy" rating to a "hold" rating and set a $66.00 price target for the company. in a report on Thursday, May 22nd. Barclays dropped their target price on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Roth Capital set a $100.00 target price on Marvell Technology in a research report on Thursday, March 6th. Loop Capital raised Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price objective on the stock in a research report on Thursday, March 6th. Finally, Raymond James set a $110.00 price objective on Marvell Technology in a research report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $101.93.

Marvell Technology Trading Up 2.7%

MRVL stock traded up $1.71 during midday trading on Tuesday, hitting $65.53. The company had a trading volume of 4,885,988 shares, compared to its average volume of 14,211,207. 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 stock has a market cap of $56.61 billion, a price-to-earnings ratio of -38.53, a PEG ratio of 1.61 and a beta of 1.83. The stock's 50 day moving average price is $59.26 and its 200 day moving average price is $87.45. Marvell Technology has a 52 week low of $47.09 and a 52 week high of $127.48.

Insider Buying and Selling at Marvell Technology

In other news, COO Chris Koopmans sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $412,980.00. Following the completion of the sale, the chief operating officer now owns 81,931 shares in the company, valued at $5,639,310.73. This trade represents a 6.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brad W. Buss purchased 3,000 shares of the business's stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $69.00 per share, with a total value of $207,000.00. Following the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 33,541 shares of company stock worth $2,079,948 in the last three months. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marvell Technology

Hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Marvell Technology in the fourth quarter worth $234,000. Prudent Investors Network Inc. acquired a new position in shares of Marvell Technology in the fourth quarter worth $248,000. Hudock Inc. acquired a new position in shares of Marvell Technology in the fourth quarter worth $265,000. Jeppson Wealth Management LLC purchased a new position in shares of Marvell Technology in the 4th quarter valued at about $302,000. Finally, Everhart Financial Group Inc. purchased a new position in shares of Marvell Technology in the 4th quarter valued at about $437,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

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.