StockNews.com Upgrades Marvell Technology (NASDAQ:MRVL) to Hold

Marvell Technology (NASDAQ:MRVL) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

Several other brokerages have also recently issued reports on MRVL. KeyCorp lifted their price objective on Marvell Technology from $95.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Benchmark reiterated a “buy” rating and set a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Cantor Fitzgerald raised their price objective on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. UBS Group increased their target price on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, TD Cowen lifted their price target on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and an average price target of $121.28.

Marvell Technology Stock Down 3.3 %

Shares of NASDAQ MRVL opened at $114.32 on Thursday. The stock has a market cap of $98.92 billion, a P/E ratio of -67.25, a PEG ratio of 4.03 and a beta of 1.41. The business’s fifty day simple moving average is $103.34 and its 200-day simple moving average is $82.45. Marvell Technology has a 12-month low of $53.19 and a 12-month high of $126.15. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Insider Transactions at Marvell Technology

In related news, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the sale, the director now owns 30,959 shares in the company, valued at $3,797,121.35. This trade represents a 13.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew J. Murphy bought 13,000 shares of the company’s stock in a transaction on Monday, October 14th. The shares were acquired at an average price of $77.63 per share, for a total transaction of $1,009,190.00. Following the transaction, the chief executive officer now directly owns 221,915 shares in the company, valued at $17,227,261.45. This trade represents a 6.22 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 180,000 shares of company stock worth $15,163,420. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Institutional investors have recently made changes to their positions in the stock. Graypoint LLC lifted its stake in shares of Marvell Technology by 28.6% in the fourth quarter. Graypoint LLC now owns 4,018 shares of the semiconductor company’s stock valued at $444,000 after purchasing an additional 894 shares during the period. Harbor Capital Advisors Inc. increased its holdings in Marvell Technology by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 9,920 shares of the semiconductor company’s stock valued at $1,096,000 after buying an additional 242 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Marvell Technology by 1.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 49,974 shares of the semiconductor company’s stock valued at $5,520,000 after acquiring an additional 629 shares during the period. ORG Partners LLC boosted its stake in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares in the last quarter. Finally, Michael S. Ryan Inc. acquired a new stake in shares of Marvell Technology in the 4th quarter worth approximately $274,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

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.