The Goldman Sachs Group Issues Positive Forecast for Marvell Technology (NASDAQ:MRVL) Stock Price

Marvell Technology (NASDAQ:MRVL) had its target price boosted by investment analysts at The Goldman Sachs Group from $115.00 to $131.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 14.16% from the company’s current price.

Several other analysts have also recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday. Bank of America raised their price objective on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley boosted their target price on Marvell Technology from $102.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Needham & Company LLC lifted their price objective on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Craig Hallum boosted their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research report on Monday. 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 data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus price target of $121.28.

Marvell Technology Price Performance

MRVL traded down $3.42 during trading hours on Friday, hitting $114.75. The company’s stock had a trading volume of 3,341,695 shares, compared to its average volume of 9,726,191. The stock has a market cap of $99.29 billion, a price-to-earnings ratio of -67.50, a P/E/G ratio of 4.03 and a beta of 1.41. The business’s 50-day moving average price is $103.34 and its 200-day moving average price is $82.45. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology has a 12 month low of $53.19 and a 12 month high of $126.15.

Insider Buying and Selling

In related news, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the transaction, the insider now directly owns 694,487 shares in the company, valued at $55,906,203.50. The trade was a 17.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $120,750.00. Following the completion of the sale, the chief financial officer now directly owns 110,253 shares of the company’s stock, valued at approximately $8,875,366.50. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 180,000 shares of company stock worth $15,163,420 in the last three months. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Marvell Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its stake in Marvell Technology by 1.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 49,974 shares of the semiconductor company’s stock valued at $5,520,000 after purchasing an additional 629 shares in the last quarter. ORG Partners LLC raised its stake in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares during the last quarter. Michael S. Ryan Inc. acquired a new stake in Marvell Technology during the 4th quarter worth about $274,000. Regent Peak Wealth Advisors LLC purchased a new stake in Marvell Technology during the 4th quarter valued at about $200,000. Finally, Diversified Trust Co increased its holdings in shares of Marvell Technology by 5.2% in the fourth quarter. Diversified Trust Co now owns 9,414 shares of the semiconductor company’s stock valued at $1,040,000 after purchasing an additional 464 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

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.