Marvell Technology (NASDAQ:MRVL) Price Target Cut to $130.00 by Analysts at Barclays

Marvell Technology (NASDAQ:MRVL) had its price target decreased by research analysts at Barclays from $150.00 to $130.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Barclays‘s target price would indicate a potential upside of 78.97% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on MRVL. Susquehanna upped their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, December 4th. Needham & Company LLC reduced their price objective on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday. B. Riley upped their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Evercore ISI upped their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Finally, Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $122.88.

Marvell Technology Trading Down 19.4 %

MRVL opened at $72.64 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The firm has a market capitalization of $62.85 billion, a PE ratio of -42.79, a P/E/G ratio of 1.61 and a beta of 1.40. The company’s 50-day moving average is $110.00 and its 200 day moving average is $93.82.

Insider Activity

In other news, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the sale, the chief financial officer now owns 112,711 shares in the company, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Marvell Technology

Institutional investors and hedge funds have recently made changes to their positions in the stock. Swedbank AB raised its position in Marvell Technology by 1.0% in the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock worth $170,037,000 after purchasing an additional 23,680 shares during the period. Stephens Inc. AR raised its position in Marvell Technology by 16.2% in the 3rd quarter. Stephens Inc. AR now owns 8,407 shares of the semiconductor company’s stock worth $606,000 after purchasing an additional 1,175 shares during the period. Janney Montgomery Scott LLC raised its position in Marvell Technology by 3.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 123,031 shares of the semiconductor company’s stock worth $8,873,000 after purchasing an additional 3,855 shares during the period. Robeco Institutional Asset Management B.V. raised its position in Marvell Technology by 83.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 141,994 shares of the semiconductor company’s stock worth $10,241,000 after purchasing an additional 64,465 shares during the period. Finally, QRG Capital Management Inc. raised its position in Marvell Technology by 9.2% in the 3rd quarter. QRG Capital Management Inc. now owns 34,779 shares of the semiconductor company’s stock worth $2,508,000 after purchasing an additional 2,940 shares during the period. Hedge funds and other institutional investors 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.