Marvell Technology (NASDAQ:MRVL – Get Rating) had its price objective reduced by analysts at Cowen from $100.00 to $85.00 in a research note issued to investors on Friday, Stock Target Advisor reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Cowen’s price target would suggest a potential upside of 42.67% from the stock’s current price.
Other equities research analysts also recently issued reports about the company. Raymond James raised Marvell Technology from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research note on Monday, April 25th. Rosenblatt Securities increased their price objective on Marvell Technology from $120.00 to $125.00 and gave the company a “buy” rating in a report on Friday, March 4th. Oppenheimer lowered their target price on Marvell Technology from $110.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, May 20th. Wells Fargo & Company dropped their price target on Marvell Technology from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, March 4th. Finally, UBS Group lowered their price objective on Marvell Technology from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $87.64.
Shares of NASDAQ:MRVL traded up $2.59 on Friday, hitting $59.58. The company’s stock had a trading volume of 730,703 shares, compared to its average volume of 11,124,226. Marvell Technology has a 12 month low of $46.77 and a 12 month high of $93.85. The company has a market capitalization of $50.68 billion, a price-to-earnings ratio of -110.70, a price-to-earnings-growth ratio of 1.80 and a beta of 1.27. The stock’s 50-day moving average is $62.13 and its two-hundred day moving average is $70.97. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.28 and a current ratio of 1.80.
In related news, EVP Dan Christman sold 4,810 shares of the business’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $57.28, for a total value of $275,516.80. Following the completion of the sale, the executive vice president now directly owns 108,393 shares of the company’s stock, valued at approximately $6,208,751.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ford Tamer sold 48,051 shares of the business’s stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $71.61, for a total value of $3,440,932.11. Following the completion of the sale, the director now directly owns 331,083 shares of the company’s stock, valued at $23,708,853.63. The disclosure for this sale can be found here. In the last three months, insiders have sold 208,610 shares of company stock worth $13,591,746. 0.45% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its holdings in Marvell Technology by 3.4% during the 4th quarter. BlackRock Inc. now owns 70,754,622 shares of the semiconductor company’s stock worth $6,190,323,000 after purchasing an additional 2,305,751 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Marvell Technology by 2.9% in the first quarter. Vanguard Group Inc. now owns 64,581,244 shares of the semiconductor company’s stock valued at $4,631,120,000 after acquiring an additional 1,847,159 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Marvell Technology by 15.7% in the third quarter. Wellington Management Group LLP now owns 45,843,799 shares of the semiconductor company’s stock valued at $2,764,839,000 after acquiring an additional 6,222,814 shares in the last quarter. State Street Corp grew its holdings in shares of Marvell Technology by 0.9% in the first quarter. State Street Corp now owns 18,632,316 shares of the semiconductor company’s stock valued at $1,336,123,000 after acquiring an additional 174,753 shares in the last quarter. Finally, Brown Advisory Inc. grew its holdings in shares of Marvell Technology by 20.7% in the fourth quarter. Brown Advisory Inc. now owns 12,746,528 shares of the semiconductor company’s stock valued at $1,115,193,000 after acquiring an additional 2,188,891 shares in the last quarter. 83.11% of the stock is owned by hedge funds and other institutional investors.
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.
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