Marvell Technology (NASDAQ:MRVL) Price Target Cut to $90.00 by Analysts at Susquehanna

Marvell Technology (NASDAQ:MRVL - Get Free Report) had its target price cut by analysts at Susquehanna from $110.00 to $90.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "positive" rating on the semiconductor company's stock. Susquehanna's price target would suggest a potential upside of 39.34% from the company's current price.

MRVL has been the topic of several other research reports. Barclays lowered their target price on shares of Marvell Technology from $130.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Loop Capital raised shares of Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price objective for the company in a report on Thursday, March 6th. Piper Sandler reduced their target price on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. Raymond James set a $110.00 price target on Marvell Technology in a report on Thursday, March 6th. Finally, Melius downgraded Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price objective for the company. in a research report on Thursday, May 22nd. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Marvell Technology presently has a consensus rating of "Moderate Buy" and an average target price of $101.93.

Marvell Technology Price Performance

NASDAQ:MRVL traded up $0.77 during trading hours on Tuesday, reaching $64.59. The company had a trading volume of 23,176,762 shares, compared to its average volume of 14,285,257. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average of $59.14 and a two-hundred day moving average of $87.29. Marvell Technology has a one year low of $47.09 and a one year high of $127.48. The firm has a market capitalization of $55.79 billion, a PE ratio of -37.99, a PEG ratio of 1.61 and a beta of 1.83.

Insider Buying and Selling

In related news, CAO Panteha Dixon sold 1,430 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the sale, the chief accounting officer now owns 31,100 shares in the company, valued at $2,138,125. This represents a 4.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Casper sold 12,460 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. Insiders have sold 33,541 shares of company stock valued at $2,079,948 in the last 90 days. 0.33% of the stock is owned by insiders.

Institutional Trading of Marvell Technology

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Marvell Technology by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 63,770,122 shares of the semiconductor company's stock valued at $3,926,326,000 after acquiring an additional 1,212,338 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Marvell Technology by 32.3% in the first quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock valued at $1,272,117,000 after purchasing an additional 5,050,159 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of Marvell Technology by 2.2% during the first quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company's stock worth $1,188,333,000 after buying an additional 423,892 shares during the period. Invesco Ltd. grew its holdings in shares of Marvell Technology by 30.1% during the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock worth $1,784,649,000 after buying an additional 3,737,705 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Marvell Technology by 6.9% in the 4th quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company's stock valued at $1,462,274,000 after buying an additional 857,087 shares during the last quarter. 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.