Stifel Nicolaus Lowers Marvell Technology (NASDAQ:MRVL) Price Target to $115.00

Marvell Technology (NASDAQ:MRVL) had its target price cut by analysts at Stifel Nicolaus from $130.00 to $115.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target points to a potential upside of 53.51% from the stock’s previous close.

A number of other brokerages also recently issued reports on MRVL. UBS Group lifted their price target on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Melius Research raised Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Morgan Stanley lowered their price target on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Thursday. Barclays dropped their price target on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average target price of $121.68.

Marvell Technology Trading Down 16.9 %

Shares of MRVL traded down $15.23 during midday trading on Thursday, reaching $74.91. The company had a trading volume of 30,499,653 shares, compared to its average volume of 12,658,109. The stock has a market cap of $64.82 billion, a PE ratio of -44.07, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. Marvell Technology has a 1-year low of $53.19 and a 1-year high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm has a 50 day simple moving average of $110.00 and a 200-day simple moving average of $93.82.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the transaction, the chief financial officer now owns 112,711 shares in the company, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the sale, the executive vice president now owns 24,706 shares in the company, valued at $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock worth $4,330,980 in the last 90 days. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MRVL. True Wealth Design LLC boosted its holdings in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares during the last quarter. ORG Partners LLC raised its holdings in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Marvell Technology in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new position in shares of Marvell Technology during the fourth quarter worth about $27,000. Finally, Kieckhefer Group LLC purchased a new stake in Marvell Technology in the 4th quarter valued at $33,000. 83.51% of the stock is owned by institutional investors and hedge funds.

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.