Marvell Technology (NASDAQ:MRVL) Price Target Raised to $115.00 at UBS Group

Marvell Technology (NASDAQ:MRVL) had its price objective boosted by analysts at UBS Group from $110.00 to $115.00 in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm presently has a “buy” rating on the semiconductor company’s stock. UBS Group’s price objective suggests a potential upside of 5.07% from the company’s previous close.

Several other research firms also recently weighed in on MRVL. Benchmark reiterated a “buy” rating and issued a $135.00 price target (up from $115.00) on shares of Marvell Technology in a research report on Wednesday. Roth Mkm reiterated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Evercore ISI boosted their price target on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a report on Monday. The Goldman Sachs Group raised their price objective on Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, B. Riley boosted 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. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $117.92.

Marvell Technology Trading Up 14.1 %

Marvell Technology stock opened at $109.45 on Wednesday. The business has a 50-day simple moving average of $83.50 and a two-hundred day simple moving average of $74.73. Marvell Technology has a 52-week low of $50.35 and a 52-week high of $109.45. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The company has a market cap of $96.99 billion, a P/E ratio of -86.41, a P/E/G ratio of 4.19 and a beta of 1.46.

Insider Transactions at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the sale, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the sale, the insider now directly owns 694,487 shares of the company’s stock, valued at $55,906,203.50. The trade was a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 267,000 shares of company stock worth $20,899,260 in the last three months. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mather Group LLC. increased its stake in Marvell Technology by 18.8% in the second quarter. Mather Group LLC. now owns 5,270 shares of the semiconductor company’s stock worth $374,000 after purchasing an additional 834 shares during the period. CWM LLC grew its holdings in shares of Marvell Technology by 35.5% in the second quarter. CWM LLC now owns 21,362 shares of the semiconductor company’s stock worth $1,493,000 after purchasing an additional 5,601 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in Marvell Technology by 12.7% during the 2nd quarter. Valeo Financial Advisors LLC now owns 9,840 shares of the semiconductor company’s stock valued at $688,000 after buying an additional 1,105 shares in the last quarter. Csenge Advisory Group boosted its position in Marvell Technology by 30.6% in the 2nd quarter. Csenge Advisory Group now owns 4,131 shares of the semiconductor company’s stock valued at $289,000 after buying an additional 967 shares during the period. Finally, Register Financial Advisors LLC grew its stake in Marvell Technology by 5.1% in the 2nd quarter. Register Financial Advisors LLC now owns 8,205 shares of the semiconductor company’s stock worth $574,000 after acquiring an additional 401 shares in the last quarter. Hedge funds and other 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.