Marvell Technology (NASDAQ:MRVL) Given New $90.00 Price Target at Morgan Stanley

Marvell Technology (NASDAQ:MRVL) had its price target reduced by investment analysts at Morgan Stanley from $113.00 to $90.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective points to a potential downside of 0.16% from the stock’s current price.

MRVL has been the subject of a number of other reports. Barclays reiterated an “overweight” rating on shares of Marvell Technology in a research report on Friday, February 14th. Susquehanna raised their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. Craig Hallum upped their price target on Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a report on Monday, January 6th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, The Goldman Sachs Group boosted their price objective on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $124.48.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $90.14 on Thursday. Marvell Technology has a twelve month low of $53.19 and a twelve month high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a market cap of $78.00 billion, a P/E ratio of -53.02, a P/E/G ratio of 1.61 and a beta of 1.40. The company’s 50-day moving average price is $110.52 and its 200-day moving average price is $93.84.

Insider Transactions at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the transaction, the chief operating officer now owns 87,931 shares in the company, valued at $9,351,461.85. The trade was a 6.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. Insiders sold a total of 36,255 shares of company stock worth $4,330,980 in the last ninety days. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Hedge funds have recently bought and sold shares of the business. Zweig DiMenna Associates LLC boosted its stake in shares of Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after buying an additional 12,700 shares during the last quarter. Berbice Capital Management LLC bought a new position in Marvell Technology during the 4th quarter valued at $637,000. RFG Advisory LLC grew its holdings in Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after acquiring an additional 2,507 shares in the last quarter. Braun Stacey Associates Inc. bought a new stake in shares of Marvell Technology in the 3rd quarter worth about $16,435,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Marvell Technology by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after purchasing an additional 66,654 shares in the last quarter. Institutional investors and hedge funds 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.