Marvell Technology (NASDAQ:MRVL) Given New $90.00 Price Target at Susquehanna

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.

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

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.