Marvell Technology (NASDAQ:MRVL – Get Rating) had its price target decreased by research analysts at Morgan Stanley from $68.00 to $62.00 in a research note issued on Friday, Stock Target Advisor reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price target points to a potential upside of 14.45% from the company’s current price.
A number of other research analysts have also recently commented on MRVL. Summit Insights cut Marvell Technology from a “buy” rating to a “hold” rating in a report on Friday, March 4th. Raymond James reaffirmed a “buy” rating and issued a $80.00 price target on shares of Marvell Technology in a report on Friday, May 27th. BMO Capital Markets lowered their target price on shares of Marvell Technology from $98.00 to $82.00 in a research report on Friday, May 27th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Monday, May 30th. Finally, Needham & Company LLC dropped their target price on shares of Marvell Technology from $105.00 to $75.00 in a report on Friday, May 27th. Four investment analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $87.22.
NASDAQ MRVL traded down $2.31 on Friday, hitting $54.17. 167,675 shares of the company’s stock traded hands, compared to its average volume of 10,260,278. Marvell Technology has a 1-year low of $50.27 and a 1-year high of $93.85. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $46.04 billion, a PE ratio of -88.80, a P/E/G ratio of 1.95 and a beta of 1.27. The firm’s 50-day moving average price is $59.54 and its two-hundred day moving average price is $70.01.
In related news, EVP Loi Nguyen sold 872 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $60.00, for a total value of $52,320.00. Following the completion of the sale, the executive vice president now owns 207,727 shares of the company’s stock, valued at approximately $12,463,620. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Dan Christman sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $75.87, for a total transaction of $1,138,050.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 231,216 shares of company stock valued at $14,891,753. 0.45% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Tufton Capital Management bought a new stake in Marvell Technology during the fourth quarter worth approximately $244,000. Cetera Investment Advisers grew its stake in Marvell Technology by 50.1% in the 3rd quarter. Cetera Investment Advisers now owns 21,937 shares of the semiconductor company’s stock valued at $1,323,000 after buying an additional 7,326 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in Marvell Technology by 300.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 19,393 shares of the semiconductor company’s stock worth $1,697,000 after acquiring an additional 14,554 shares during the period. AIMZ Investment Advisors LLC lifted its position in Marvell Technology by 37.4% during the 4th quarter. AIMZ Investment Advisors LLC now owns 13,562 shares of the semiconductor company’s stock worth $1,187,000 after acquiring an additional 3,695 shares during the last quarter. Finally, Cable Hill Partners LLC bought a new stake in Marvell Technology during the fourth quarter valued at about $329,000. 83.11% of the stock is currently owned by institutional investors and hedge funds.
About Marvell Technology (Get Rating)
Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors.
- Get a free copy of the StockNews.com research report on Marvell Technology (MRVL)
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