UBS Group Lowers Marvell Technology (NASDAQ:MRVL) Price Target to $100.00

Marvell Technology (NASDAQ:MRVL - Get Free Report) had its target price reduced by equities research analysts at UBS Group from $110.00 to $100.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the semiconductor company's stock. UBS Group's price objective suggests a potential upside of 60.42% from the company's current price.

A number of other research firms have also commented on MRVL. Needham & Company LLC dropped their price target on shares of Marvell Technology from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Summit Insights lowered shares of Marvell Technology from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Barclays lowered their price target 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 price objective on Marvell Technology in a research report on Thursday, March 6th. Finally, Bank of America lowered their target price on Marvell Technology from $120.00 to $72.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $110.69.

Marvell Technology Stock Down 2.2%

Shares of NASDAQ MRVL traded down $1.42 during mid-day trading on Monday, reaching $62.34. 5,753,428 shares of the company traded hands, compared to its average volume of 17,152,563. The company's fifty day moving average is $60.36 and its two-hundred day moving average is $88.78. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology has a fifty-two week low of $47.08 and a fifty-two week high of $127.48. The stock has a market cap of $53.85 billion, a PE ratio of -36.67, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83.

Insider Buying and Selling

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the transaction, the chief operating officer now owns 87,931 shares of the company's stock, valued at approximately $9,351,461.85. This represents a 6.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the completion of the sale, the chief financial officer now directly owns 113,592 shares of the company's stock, valued at $7,818,537.36. This trade represents a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,915 shares of company stock worth $2,679,800 in the last three months. Insiders own 0.19% of the company's stock.

Hedge Funds Weigh In On Marvell Technology

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Marvell Technology by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 63,770,122 shares of the semiconductor company's stock worth $3,926,326,000 after buying an additional 1,212,338 shares during the period. Goldman Sachs Group Inc. grew its holdings in Marvell Technology by 32.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock worth $1,272,117,000 after acquiring an additional 5,050,159 shares during the period. Brown Advisory Inc. raised its position in shares of Marvell Technology by 2.2% during the 1st quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company's stock valued at $1,188,333,000 after acquiring an additional 423,892 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Marvell Technology by 30.1% in the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock valued at $1,784,649,000 after purchasing an additional 3,737,705 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of 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 worth $1,462,274,000 after purchasing an additional 857,087 shares during the last quarter. Institutional investors own 83.51% of the company's stock.

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.

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