Craig Hallum Issues Positive Forecast for Marvell Technology (NASDAQ:MRVL) Stock Price

Marvell Technology (NASDAQ:MRVL) had its target price hoisted by stock analysts at Craig Hallum from $132.00 to $149.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s price target would suggest a potential upside of 23.98% from the stock’s current price.

MRVL has been the topic of a number of other research reports. Evercore ISI upped their target price on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. B. Riley upped their price objective on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group lifted their target price on Marvell Technology from $87.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. TD Cowen raised their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Loop Capital boosted their price objective on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.64.

Marvell Technology Trading Up 1.7 %

MRVL stock traded up $2.00 during mid-day trading on Monday, reaching $120.18. 7,674,328 shares of the stock traded hands, compared to its average volume of 9,463,779. Marvell Technology has a one year low of $53.19 and a one year high of $126.15. The stock has a market capitalization of $103.99 billion, a PE ratio of -70.69, a PEG ratio of 4.03 and a beta of 1.41. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The business has a 50-day moving average price of $100.53 and a two-hundred day moving average price of $81.32.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $120,750.00. Following the sale, the chief financial officer now owns 110,253 shares of the company’s stock, valued at $8,875,366.50. The trade was a 1.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew J. Murphy acquired 13,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were acquired at an average cost of $77.63 per share, with a total value of $1,009,190.00. Following the purchase, the chief executive officer now owns 221,915 shares in the company, valued at $17,227,261.45. This represents a 6.22 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 172,500 shares of company stock valued at $14,267,670 in the last three months. 0.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MRVL. True Wealth Design LLC boosted its stake in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying an additional 326 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Marvell Technology in the 2nd quarter valued at approximately $32,000. Quarry LP acquired a new position in Marvell Technology during the second quarter worth $32,000. Whittier Trust Co. raised its holdings in shares of Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 210 shares during the period. Finally, Goodman Advisory Group LLC acquired a new stake in shares of Marvell Technology during the third quarter worth about $37,000. 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.