TD Cowen Lowers Marvell Technology (NASDAQ:MRVL) Price Target to $95.00

Marvell Technology (NASDAQ:MRVL) had its price objective decreased by equities researchers at TD Cowen from $125.00 to $95.00 in a research report issued on Thursday,Briefing.com Automated Import reports. The firm presently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s target price indicates a potential upside of 5.39% from the company’s current price.

Several other brokerages also recently commented on MRVL. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Summit Insights cut shares of Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday. KeyCorp upped their price objective on shares of Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Benchmark reissued a “buy” rating and set a $135.00 price objective (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. boosted their target price on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $126.40.

Marvell Technology Stock Up 2.0 %

Shares of Marvell Technology stock opened at $90.14 on Thursday. The firm has a market cap of $78.00 billion, a price-to-earnings ratio of -53.02, a PEG ratio of 1.61 and a beta of 1.40. The stock’s 50-day moving average is $110.52 and its 200 day moving average is $93.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology has a one year low of $53.19 and a one year high of $127.48.

Insider Activity

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the transaction, the executive vice president now owns 93,931 shares in the company, valued at $11,685,016.40. This represents a 6.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the sale, the executive vice president now directly owns 24,706 shares of the company’s stock, valued at approximately $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 sold a total of 36,255 shares of company stock valued at $4,330,980 over the last three months. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Castle Rock Wealth Management LLC lifted its stake in shares of Marvell Technology by 165.8% during the 4th quarter. Castle Rock Wealth Management LLC now owns 16,283 shares of the semiconductor company’s stock valued at $1,734,000 after buying an additional 10,157 shares in the last quarter. Total Wealth Planning & Management Inc. purchased a new position in shares of Marvell Technology in the fourth quarter valued at $824,000. Menard Financial Group LLC bought a new stake in shares of Marvell Technology during the 4th quarter valued at $669,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Marvell Technology during the 4th quarter worth about $105,450,000. Finally, Chelsea Counsel Co. bought a new position in Marvell Technology in the 4th quarter worth about $44,000. 83.51% of the stock is currently 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.