Loop Capital Boosts Marvell Technology (NASDAQ:MRVL) Price Target to $110.00

Marvell Technology (NASDAQ:MRVL) had its price objective upped by Loop Capital from $95.00 to $110.00 in a report released on Wednesday,Briefing.com Automated Import reports. The firm presently has a “hold” rating on the semiconductor company’s stock. Loop Capital’s target price would suggest a potential upside of 14.69% from the stock’s previous close.

A number of other research firms have also weighed in on MRVL. Bank of America increased their target price on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday. B. Riley increased their target price on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley increased their target price on Marvell Technology from $82.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Stifel Nicolaus reiterated a “buy” rating and issued a $125.00 target price (up previously from $114.00) on shares of Marvell Technology in a research note on Wednesday. Finally, TD Cowen increased their target price on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $111.04.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $95.91 on Wednesday. The stock’s fifty day moving average is $83.50 and its 200 day moving average is $74.73. Marvell Technology has a fifty-two week low of $50.35 and a fifty-two week high of $98.72. The firm has a market capitalization of $85.00 billion, a PE ratio of -86.41, a PEG ratio of 4.19 and a beta of 1.46. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79.

Insider Buying and Selling at Marvell Technology

In other news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total value of $177,075.00. Following the completion of the sale, the executive vice president now directly owns 22,494 shares of the company’s stock, valued at $1,593,250.02. This trade represents a 10.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $73.87, for a total value of $110,805.00. Following the completion of the sale, the chief financial officer now directly owns 111,753 shares of the company’s stock, valued at $8,255,194.11. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 267,000 shares of company stock worth $20,899,260. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Marvell Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. True Wealth Design LLC increased its position 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 in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Marvell Technology in the second quarter valued at $32,000. Quarry LP purchased a new stake in shares of Marvell Technology in the second quarter valued at $32,000. Whittier Trust Co. grew its position in Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 210 shares during the period. Finally, Goodman Advisory Group LLC purchased a new stake in Marvell Technology during the third quarter valued at about $37,000. 83.51% of the stock is owned by institutional investors and hedge funds.

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.