The Goldman Sachs Group Forecasts Strong Price Appreciation for Marvell Technology (NASDAQ:MRVL) Stock

Marvell Technology (NASDAQ:MRVL) had its price objective boosted by research analysts at The Goldman Sachs Group from $87.00 to $115.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 1.31% from the company’s previous close.

Other analysts also recently issued research reports about the company. TD Cowen lifted their price target on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday. Susquehanna lifted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday. Barclays increased their price target on shares of Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday. Bank of America lifted their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and issued a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and an average target price of $119.04.

Marvell Technology Price Performance

Marvell Technology stock opened at $113.51 on Thursday. The firm has a market capitalization of $100.59 billion, a P/E ratio of -66.77, a PEG ratio of 4.15 and a beta of 1.46. Marvell Technology has a one year low of $50.56 and a one year high of $119.88. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The business has a fifty day moving average price of $86.09 and a 200-day moving average price of $75.57.

Insiders Place Their Bets

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the transaction, the executive vice president now owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. The trade was a 5.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the transaction, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at $10,180,768.54. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 267,000 shares of company stock valued at $20,899,260. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

A number of hedge funds have recently bought and sold shares of the company. True Wealth Design LLC grew its holdings in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Marvell Technology in the 2nd quarter worth approximately $32,000. Quarry LP bought a new stake in Marvell Technology during the 2nd quarter worth approximately $32,000. Whittier Trust Co. lifted its holdings in Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares in the last quarter. Finally, Goodman Advisory Group LLC bought a new position in shares of Marvell Technology in the third quarter worth approximately $37,000. 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.