Piper Sandler Issues Pessimistic Forecast for Marvell Technology (NASDAQ:MRVL) Stock Price

Marvell Technology (NASDAQ:MRVL) had its price objective reduced by research analysts at Piper Sandler from $120.00 to $95.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. Piper Sandler’s price objective would indicate a potential upside of 27.57% from the company’s current price.

Several other analysts also recently issued reports on the company. Summit Insights downgraded Marvell Technology from a “buy” rating to a “hold” rating in a research note on Thursday. Wells Fargo & Company lifted their price objective on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Thursday. Needham & Company LLC reduced their price target on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday. Finally, KeyCorp dropped their price objective on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and an average target price of $122.28.

Marvell Technology Stock Performance

MRVL stock traded down $15.67 during trading on Thursday, reaching $74.47. The stock had a trading volume of 20,606,322 shares, compared to its average volume of 12,627,631. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology has a 52 week low of $53.19 and a 52 week high of $127.48. The firm has a market cap of $64.44 billion, a PE ratio of -44.08, a PEG ratio of 1.61 and a beta of 1.40. The stock’s 50 day moving average is $110.00 and its two-hundred day moving average is $93.82.

Insider Buying and Selling at Marvell Technology

In related news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the completion of the transaction, the chief operating officer now directly owns 87,931 shares in the company, valued at $9,351,461.85. The trade was a 6.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the transaction, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,255 shares of company stock valued at $4,330,980. Insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Institutional investors have recently added to or reduced their stakes in the business. Centricity Wealth Management LLC purchased a new stake in shares of Marvell Technology during the 4th quarter valued at about $26,000. ORG Partners LLC raised its stake in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares during the period. Rialto Wealth Management LLC purchased a new stake in shares of Marvell Technology during the fourth quarter valued at approximately $27,000. Kieckhefer Group LLC acquired a new position in shares of Marvell Technology during the fourth quarter worth $33,000. Finally, Financial Life Planners purchased a new position in shares of Marvell Technology in the fourth quarter valued at $33,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

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.