Marvell Technology (NASDAQ:MRVL) Price Target Raised to $110.00 at Susquehanna

Marvell Technology (NASDAQ:MRVL) had its price target raised by equities research analysts at Susquehanna from $95.00 to $110.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s target price points to a potential upside of 18.10% from the company’s previous close.

Other research analysts have also issued research reports about the company. Loop Capital assumed coverage on Marvell Technology in a research note on Monday, November 11th. They set a “hold” rating and a $95.00 price target on the stock. Morgan Stanley increased their target price on Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. Piper Sandler reaffirmed an “overweight” rating and set a $100.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Evercore ISI increased their price objective on shares of Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Finally, StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Three research 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.39.

Marvell Technology Trading Up 1.0 %

Shares of Marvell Technology stock opened at $93.14 on Wednesday. Marvell Technology has a 1 year low of $50.35 and a 1 year high of $95.55. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The business has a 50 day moving average price of $81.05 and a 200 day moving average price of $73.76. The company has a market capitalization of $82.54 billion, a P/E ratio of -83.91, a P/E/G ratio of 4.01 and a beta of 1.44.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the company posted $0.18 EPS. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. Sell-side analysts anticipate that Marvell Technology will post 0.78 EPS for the current fiscal year.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the sale, the executive vice president now owns 109,244 shares in the company, valued at $8,823,637.88. This represents a 5.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $73.87, for a total value of $110,805.00. Following the transaction, the chief financial officer now directly owns 111,753 shares in the company, valued at approximately $8,255,194.11. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 267,000 shares of company stock worth $20,899,260. Insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Institutional investors have recently added to or reduced their stakes in the business. Peapack Gladstone Financial Corp boosted its position in Marvell Technology by 27.3% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 23,312 shares of the semiconductor company’s stock valued at $1,681,000 after purchasing an additional 5,005 shares during the period. Synovus Financial Corp grew its position in Marvell Technology by 60.5% in the 3rd quarter. Synovus Financial Corp now owns 6,489 shares of the semiconductor company’s stock valued at $468,000 after buying an additional 2,445 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Marvell Technology during the third quarter valued at approximately $3,432,000. World Investment Advisors LLC raised its stake in shares of Marvell Technology by 1.4% in the 3rd quarter. World Investment Advisors LLC now owns 40,366 shares of the semiconductor company’s stock worth $2,911,000 after buying an additional 560 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in Marvell Technology by 42.5% during the third quarter. Sanctuary Advisors LLC now owns 75,027 shares of the semiconductor company’s stock worth $5,411,000 after acquiring an additional 22,382 shares during the period. Institutional investors 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.