Marvell Technology (NASDAQ:MRVL) Given “Buy” Rating at Benchmark

Marvell Technology (NASDAQ:MRVL)‘s stock had its “buy” rating reissued by equities research analysts at Benchmark in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $135.00 price target on the semiconductor company’s stock, up from their prior price target of $115.00. Benchmark’s price target suggests a potential upside of 40.76% from the company’s previous close.

MRVL has been the topic of several other research reports. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a report on Monday. Morgan Stanley upped their price objective on shares of Marvell Technology from $82.00 to $102.00 and gave the company an “equal weight” rating in a research note on Wednesday. TD Cowen raised shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Evercore ISI raised their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Oppenheimer increased their target price on Marvell Technology from $90.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Three analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.96.

Marvell Technology Price Performance

Shares of Marvell Technology stock opened at $95.91 on Wednesday. Marvell Technology has a 52 week low of $50.35 and a 52 week high of $98.72. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. The stock has a market cap of $85.00 billion, a PE ratio of -86.41, a price-to-earnings-growth ratio of 4.19 and a beta of 1.46. The company’s 50-day moving average price is $83.50 and its two-hundred day moving average price is $74.73.

Insider Activity at Marvell Technology

In related news, CEO Matthew J. Murphy sold 6,000 shares of Marvell Technology stock in a transaction on Monday, September 16th. The shares were sold at an average price of $73.29, for a total value of $439,740.00. Following the transaction, the chief executive officer now owns 208,915 shares in the company, valued at $15,311,380.35. This trade represents a 2.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was 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 of the company’s stock, valued at approximately $55,906,203.50. This represents a 17.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 267,000 shares of company stock valued at $20,899,260. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. True Wealth Design LLC grew its stake in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Marvell Technology in the 2nd quarter worth $32,000. Quarry LP bought a new position in shares of Marvell Technology during the 2nd quarter worth about $32,000. Whittier Trust Co. raised its position in shares of 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 buying an additional 210 shares during the last quarter. Finally, Goodman Advisory Group LLC bought a new stake in shares of Marvell Technology in the third quarter valued at about $37,000. 83.51% of the stock is owned by 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.