Oppenheimer Boosts Marvell Technology (NASDAQ:MRVL) Price Target to $125.00

Marvell Technology (NASDAQ:MRVL) had its price target boosted by equities research analysts at Oppenheimer from $110.00 to $125.00 in a report released on Wednesday, Marketbeat Ratings reports. The brokerage presently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s price objective would suggest a potential upside of 10.26% from the stock’s previous close.

MRVL has been the topic of a number of other reports. B. Riley raised their target price on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup reissued a “buy” rating and set a $91.00 target price on shares of Marvell Technology in a research note on Monday, October 14th. Bank of America raised their price target on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday. Evercore ISI lifted their price objective on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Rosenblatt Securities raised their target price on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $119.04.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $113.37 on Wednesday. The firm has a 50 day simple moving average of $85.24 and a 200-day simple moving average of $75.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The firm has a market cap of $100.47 billion, a PE ratio of -66.69, a P/E/G ratio of 4.15 and a beta of 1.46. Marvell Technology has a 1-year low of $50.35 and a 1-year high of $119.88.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the sale, the chief financial officer now owns 114,211 shares in the company, valued at approximately $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the sale, the executive vice president now owns 103,244 shares of the company’s stock, valued at $9,203,170.16. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,000 shares of company stock worth $20,899,260 in the last quarter. 0.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Marvell Technology

Hedge funds have recently bought and sold shares of the business. Mather Group LLC. boosted its position in shares of Marvell Technology by 18.8% during the second quarter. Mather Group LLC. now owns 5,270 shares of the semiconductor company’s stock valued at $374,000 after buying an additional 834 shares during the period. CWM LLC increased its position in Marvell Technology by 35.5% during the 2nd quarter. CWM LLC now owns 21,362 shares of the semiconductor company’s stock valued at $1,493,000 after purchasing an additional 5,601 shares during the period. Valeo Financial Advisors LLC raised its stake in Marvell Technology by 12.7% in the second quarter. Valeo Financial Advisors LLC now owns 9,840 shares of the semiconductor company’s stock worth $688,000 after buying an additional 1,105 shares in the last quarter. Csenge Advisory Group boosted its holdings in shares of Marvell Technology by 30.6% in the 2nd quarter. Csenge Advisory Group now owns 4,131 shares of the semiconductor company’s stock valued at $289,000 after buying an additional 967 shares in the last quarter. Finally, Register Financial Advisors LLC lifted its holdings in shares of Marvell Technology by 5.1% during the 2nd quarter. Register Financial Advisors LLC now owns 8,205 shares of the semiconductor company’s stock valued at $574,000 after purchasing an additional 401 shares during the last quarter. Hedge funds and other 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.