Wells Fargo & Company Issues Positive Forecast for Marvell Technology (NASDAQ:MRVL) Stock Price

Marvell Technology (NASDAQ:MRVLGet Free Report) had its price target upped by equities research analysts at Wells Fargo & Company from $130.00 to $140.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 21.53% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Barclays boosted their price objective on Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Loop Capital boosted their target price on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. B. Riley increased their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. UBS Group lifted their target price on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Susquehanna raised their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and an average target price of $121.68.

View Our Latest Research Report on MRVL

Marvell Technology Stock Performance

MRVL opened at $115.20 on Monday. The firm has a market capitalization of $99.68 billion, a PE ratio of -67.76, a PEG ratio of 4.03 and a beta of 1.41. 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 twelve month low of $53.19 and a twelve month high of $126.15. The firm’s 50-day moving average price is $104.54 and its 200 day moving average price is $83.31.

Insider Transactions at Marvell Technology

In other news, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction dated Thursday, January 2nd. The stock was 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 approximately $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the sale, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. The trade was a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,500 shares of company stock valued at $2,967,670. 0.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marvell Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Marvell Technology by 0.3% during the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after acquiring an additional 68,893 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in 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 purchasing an additional 2,254,610 shares during the period. Geode Capital Management LLC grew its position in Marvell Technology by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock worth $818,916,000 after purchasing an additional 219,692 shares during the last quarter. Wellington Management Group LLP increased its stake in Marvell Technology by 4.3% in the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after purchasing an additional 359,005 shares during the period. Finally, Van ECK Associates Corp increased its stake in 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. Hedge funds and other institutional investors own 83.51% of the company’s stock.

About Marvell Technology

(Get Free Report)

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.

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