UBS Group Issues Positive Forecast for Marvell Technology (NASDAQ:MRVL) Stock Price

Marvell Technology (NASDAQ:MRVL) had its target price lifted by analysts at UBS Group from $110.00 to $115.00 in a note issued to investors on Wednesday, Marketbeat.com reports. The firm presently has a “buy” rating on the semiconductor company’s stock. UBS Group’s target price points to a potential upside of 1.44% from the stock’s previous close.

MRVL has been the subject of a number of other reports. B. Riley boosted their target price on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday. Rosenblatt Securities boosted their price objective on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company raised their target price on shares of Marvell Technology from $90.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. TD Cowen upped their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Piper Sandler restated an “overweight” rating and set a $120.00 price objective (up from $100.00) on shares of Marvell Technology in a report on Wednesday. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $119.04.

Marvell Technology Trading Down 4.0 %

Shares of NASDAQ MRVL opened at $113.37 on Wednesday. Marvell Technology has a twelve month low of $50.35 and a twelve month high of $119.88. The stock has a market cap of $100.47 billion, a price-to-earnings ratio of -66.69, a P/E/G ratio of 4.15 and a beta of 1.46. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The company’s fifty day moving average is $85.24 and its 200-day moving average is $75.30.

Insider Buying and Selling

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction 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 completion of 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the transaction, the insider now directly owns 694,487 shares in the company, valued at $55,906,203.50. The trade was a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 267,000 shares of company stock valued at $20,899,260. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Marvell Technology

A number of large investors have recently made changes to their positions in the company. Oddo BHF Asset Management Sas bought a new stake in Marvell Technology in the 3rd quarter valued at $10,944,000. Beaird Harris Wealth Management LLC lifted its holdings in shares of Marvell Technology by 2,313.8% during the third quarter. Beaird Harris Wealth Management LLC now owns 700 shares of the semiconductor company’s stock worth $50,000 after buying an additional 671 shares in the last quarter. Peapack Gladstone Financial Corp boosted its position in shares of Marvell Technology by 27.3% in the third quarter. Peapack Gladstone Financial Corp now owns 23,312 shares of the semiconductor company’s stock valued at $1,681,000 after acquiring an additional 5,005 shares during the period. Synovus Financial Corp grew its stake in shares of Marvell Technology by 60.5% in the third quarter. Synovus Financial Corp now owns 6,489 shares of the semiconductor company’s stock valued at $468,000 after acquiring an additional 2,445 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Marvell Technology during the third quarter worth about $3,432,000. Institutional investors 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.