Loop Capital Boosts Marvell Technology (NASDAQ:MRVL) Price Target to $110.00

Marvell Technology (NASDAQ:MRVL) had its price objective raised by analysts at Loop Capital from $95.00 to $110.00 in a research report issued on Wednesday,Briefing.com Automated Import reports. The firm presently has a “hold” rating on the semiconductor company’s stock. Loop Capital’s price objective suggests a potential upside of 14.69% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Benchmark reiterated a “buy” rating and issued a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a research note on Wednesday. Oppenheimer boosted their price target on Marvell Technology from $90.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. B. Riley upped their price objective on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley upped their price objective on Marvell Technology from $82.00 to $102.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Barclays upped their price objective on Marvell Technology from $85.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $111.04.

Marvell Technology Trading Down 1.0 %

Shares of MRVL opened at $95.91 on Wednesday. The stock’s 50-day moving average is $83.50 and its two-hundred day moving average is $74.73. The stock has a market cap of $85.00 billion, a PE ratio of -86.41, a P/E/G ratio of 4.19 and a beta of 1.46. Marvell Technology has a 12 month low of $50.35 and a 12 month high of $98.72. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26.

Insider Activity

In other news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the transaction, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $73.87, for a total transaction of $110,805.00. Following the completion of the transaction, the chief financial officer now directly owns 111,753 shares in the company, valued at $8,255,194.11. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 267,000 shares of company stock worth $20,899,260. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Hedge funds have recently bought and sold shares of the business. True Wealth Design LLC grew its position in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Marvell Technology in the second quarter valued at about $32,000. Quarry LP acquired a new stake in shares of Marvell Technology in the second quarter valued at about $32,000. Whittier Trust Co. grew its position in shares of Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares during the last quarter. Finally, Goodman Advisory Group LLC acquired a new stake in shares of Marvell Technology in the third quarter valued at about $37,000. 83.51% of the stock is owned by institutional investors and hedge funds.

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.