Marvell Technology (NASDAQ:MRVL) Receives “Buy” Rating from Benchmark

Marvell Technology (NASDAQ:MRVL)‘s stock had its “buy” rating restated by analysts at Benchmark in a note issued to investors on Thursday,Benzinga reports. They currently have a $135.00 target price on the semiconductor company’s stock. Benchmark’s price objective would suggest a potential upside of 49.77% from the stock’s previous close.

Several other research firms have also issued reports on MRVL. KeyCorp increased their target price on Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Stifel Nicolaus boosted their price target on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Evercore ISI raised their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Cantor Fitzgerald upped their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Melius started coverage on shares of Marvell Technology in a report on Monday, January 27th. They set a “buy” rating and a $188.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and an average price target of $125.60.

Marvell Technology Stock Up 2.0 %

Marvell Technology stock opened at $90.14 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm has a 50 day moving average price of $110.52 and a 200 day moving average price of $93.84. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The company has a market capitalization of $78.00 billion, a PE ratio of -53.02, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40.

Insiders Place Their Bets

In other news, COO Chris Koopmans sold 6,000 shares of Marvell Technology 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 directly owns 87,931 shares of the company’s stock, valued at $9,351,461.85. The trade was a 6.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. This trade represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock valued at $4,330,980 over the last quarter. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Several hedge funds have recently made changes to their positions in the business. True Wealth Design LLC raised its stake in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares during the last quarter. ORG Partners LLC lifted its stake in shares of 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 period. Centricity Wealth Management LLC acquired a new stake in shares of Marvell Technology in the 4th quarter worth $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Marvell Technology in the fourth quarter valued at about $27,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Marvell Technology during the fourth quarter worth about $33,000. Institutional investors and hedge funds 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.