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

Marvell Technology (NASDAQ:MRVL - Get Free Report) had its price objective reduced by analysts at Susquehanna from $110.00 to $90.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "positive" rating on the semiconductor company's stock. Susquehanna's target price indicates a potential upside of 38.84% from the stock's previous close.

Other equities analysts also recently issued research reports about the company. Summit Insights downgraded Marvell Technology from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Melius Research lowered Marvell Technology from a "strong-buy" rating to a "hold" rating and set a $66.00 target price on the stock. in a research report on Thursday, May 22nd. Raymond James set a $110.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Cantor Fitzgerald cut shares of Marvell Technology from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $125.00 to $60.00 in a research report on Wednesday, May 7th. Finally, Bank of America decreased their price objective on shares of Marvell Technology from $120.00 to $72.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Six investment 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $103.22.

Marvell Technology Stock Performance

MRVL traded up $4.13 on Tuesday, reaching $64.82. The stock had a trading volume of 7,504,626 shares, compared to its average volume of 14,172,506. Marvell Technology has a 12-month low of $47.09 and a 12-month high of $127.48. 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 company has a market cap of $56.00 billion, a P/E ratio of -38.14, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. The business's 50-day moving average price is $59.39 and its two-hundred day moving average price is $87.61.

Insider Buying and Selling at Marvell Technology

In related news, CAO Panteha Dixon sold 1,430 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the sale, the chief accounting officer now owns 31,100 shares in the company, valued at approximately $2,138,125. The trade was a 4.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brad W. Buss bought 3,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the purchase, the director now owns 87,113 shares in the company, valued at $6,010,797. This represents a 3.57% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 33,541 shares of company stock worth $2,079,948 in the last ninety days. 0.19% of the stock is owned by insiders.

Institutional Trading of Marvell Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. Geneos Wealth Management Inc. increased its stake in Marvell Technology by 175.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 9,095 shares of the semiconductor company's stock worth $1,005,000 after buying an additional 5,791 shares during the period. Drive Wealth Management LLC acquired a new position in shares of Marvell Technology in the fourth quarter worth $260,000. PFG Investments LLC increased its position in shares of Marvell Technology by 43.8% during the fourth quarter. PFG Investments LLC now owns 4,373 shares of the semiconductor company's stock worth $483,000 after acquiring an additional 1,332 shares during the period. Blue Trust Inc. boosted its holdings in Marvell Technology by 29.2% in the fourth quarter. Blue Trust Inc. now owns 9,176 shares of the semiconductor company's stock valued at $1,013,000 after purchasing an additional 2,074 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in Marvell Technology in the 4th quarter valued at about $16,699,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

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.

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