UBS Group Boosts Marvell Technology (NASDAQ:MRVL) Price Target to $115.00

Marvell Technology (NASDAQ:MRVL) had its price target boosted by research analysts at UBS Group from $110.00 to $115.00 in a report released on Wednesday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the semiconductor company’s stock. UBS Group’s price objective would suggest a potential upside of 5.07% from the stock’s current price.

Several other research analysts also recently commented on the stock. Evercore ISI lifted their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday. Piper Sandler reissued an “overweight” rating and issued a $120.00 price target (up from $100.00) on shares of Marvell Technology in a research note on Wednesday. Rosenblatt Securities raised their price objective on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday. TD Cowen boosted their target price on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Roth Mkm restated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus target price of $117.92.

Marvell Technology Price Performance

Shares of Marvell Technology stock opened at $109.45 on Wednesday. The firm has a market capitalization of $96.99 billion, a PE ratio of -86.41, a price-to-earnings-growth ratio of 4.19 and a beta of 1.46. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. Marvell Technology has a 12 month low of $50.35 and a 12 month high of $109.45. The business’s 50-day moving average price is $83.50 and its 200-day moving average price is $74.73.

Insider Transactions at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the sale, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $12,075,000.00. Following the transaction, the insider now owns 694,487 shares of the company’s stock, valued at $55,906,203.50. The trade was a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 267,000 shares of company stock valued at $20,899,260 in the last three months. 0.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MRVL. Citizens Financial Group Inc. RI lifted its holdings in shares of Marvell Technology by 1.5% during the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock valued at $566,000 after purchasing an additional 116 shares in the last quarter. Crumly & Associates Inc. lifted its stake in Marvell Technology by 1.5% during the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock valued at $593,000 after acquiring an additional 121 shares during the period. United Capital Management of KS Inc. boosted its holdings in shares of Marvell Technology by 0.4% during the 3rd quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after acquiring an additional 131 shares during the last quarter. Tlwm grew its stake in shares of Marvell Technology by 1.6% in the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after acquiring an additional 136 shares during the period. Finally, Integrated Wealth Concepts LLC raised its holdings in shares of Marvell Technology by 1.4% during the third quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock valued at $716,000 after purchasing an additional 139 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

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.