Marvell Technology (NASDAQ:MRVL) Price Target Raised to $149.00 at Craig Hallum

Marvell Technology (NASDAQ:MRVL) had its price target raised by stock analysts at Craig Hallum from $132.00 to $149.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s price target would indicate a potential upside of 28.19% from the stock’s previous close.

Several other equities analysts have also issued reports on MRVL. Barclays upped their price target on Marvell Technology from $85.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Loop Capital raised their target price on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. B. Riley lifted their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. KeyCorp increased their price objective on shares of Marvell Technology from $95.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their target price on shares of Marvell Technology from $87.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.64.

Marvell Technology Stock Performance

MRVL stock opened at $116.23 on Monday. The company has a 50 day moving average price of $101.87 and a 200 day moving average price of $81.95. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The stock has a market capitalization of $100.57 billion, a PE ratio of -68.37, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41.

Insider Activity at Marvell Technology

In other news, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the sale, the executive vice president now directly owns 97,244 shares in the company, valued at approximately $11,912,390. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 175,000 shares of company stock valued at $14,550,170. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

A number of institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. boosted its stake in shares of Marvell Technology by 24.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after acquiring an additional 2,254,610 shares during the period. Temasek Holdings Private Ltd boosted its position in Marvell Technology by 581.8% during the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after purchasing an additional 1,911,532 shares during the period. Holocene Advisors LP acquired a new position in shares of Marvell Technology in the third quarter valued at $120,116,000. Van ECK Associates Corp raised its position in shares of Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after purchasing an additional 1,570,050 shares during the period. Finally, D1 Capital Partners L.P. acquired a new stake in shares of Marvell Technology during the 2nd quarter worth about $108,204,000. Institutional investors and hedge funds 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.