Marvell Technology (NASDAQ:MRVL) Price Target Raised to $82.00 at Morgan Stanley

Marvell Technology (NASDAQ:MRVL) had its target price increased by Morgan Stanley from $77.00 to $82.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price target indicates a potential upside of 17.41% from the company’s previous close.

A number of other equities analysts also recently commented on MRVL. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price objective on shares of Marvell Technology in a report on Friday, May 31st. B. Riley lifted their price objective on Marvell Technology from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 31st. Needham & Company LLC reissued a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, May 31st. Barclays upped their target price on shares of Marvell Technology from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, May 31st. Finally, KeyCorp boosted their price objective on shares of Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.32.

Marvell Technology Stock Up 2.0 %

Shares of Marvell Technology stock opened at $69.84 on Friday. The company has a fifty day moving average price of $67.86 and a 200 day moving average price of $69.42. Marvell Technology has a twelve month low of $46.07 and a twelve month high of $85.76. The company has a current ratio of 1.80, a quick ratio of 1.24 and a debt-to-equity ratio of 0.28. The stock has a market cap of $60.45 billion, a price-to-earnings ratio of -61.81, a price-to-earnings-growth ratio of 2.99 and a beta of 1.47.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. Marvell Technology’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the firm posted $0.18 EPS. Equities research analysts forecast that Marvell Technology will post 0.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Marvell Technology

In other news, insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the transaction, the insider now owns 838,571 shares in the company, valued at approximately $62,892,825. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Muhammad Raghib Hussain sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the completion of the sale, the insider now owns 838,571 shares in the company, valued at approximately $62,892,825. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $73.42, for a total transaction of $367,100.00. Following the completion of the sale, the executive vice president now directly owns 115,318 shares in the company, valued at $8,466,647.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,500 shares of company stock worth $4,872,620. Insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Diversified Trust Co purchased a new position in shares of Marvell Technology during the second quarter worth about $932,000. Orion Portfolio Solutions LLC raised its holdings in shares of Marvell Technology by 47.1% in the first quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock worth $2,282,000 after acquiring an additional 10,306 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Marvell Technology by 157.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 772 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 472 shares during the last quarter. Hoylecohen LLC acquired a new position in Marvell Technology in the 4th quarter valued at $658,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Marvell Technology by 20.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 529,127 shares of the semiconductor company’s stock valued at $37,505,000 after buying an additional 88,918 shares during the period. 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.