Morgan Stanley Forecasts Strong Price Appreciation for Marvell Technology (NASDAQ:MRVL) Stock

Marvell Technology (NASDAQ:MRVL) had its price target increased by equities researchers at Morgan Stanley from $102.00 to $120.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s target price indicates a potential upside of 7.24% from the company’s previous close.

Several other equities analysts have also commented on the company. Oppenheimer raised their price objective on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Stifel Nicolaus reissued a “buy” rating and set a $125.00 price target (up from $114.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Barclays upped their price objective on shares of Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Roth Mkm reiterated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Finally, Citigroup upped their price target on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Three 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.76.

Marvell Technology Stock Up 2.6 %

Shares of NASDAQ:MRVL opened at $111.90 on Friday. The firm has a market capitalization of $96.83 billion, a P/E ratio of -65.82, a P/E/G ratio of 4.03 and a beta of 1.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The stock has a 50 day moving average price of $93.92 and a 200-day moving average price of $78.26. Marvell Technology has a 52-week low of $53.19 and a 52-week high of $126.15.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $120,750.00. Following the completion of the sale, the chief financial officer now directly owns 110,253 shares in the company, valued at $8,875,366.50. This represents a 1.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total value of $177,075.00. Following the transaction, the executive vice president now owns 22,494 shares in the company, valued at $1,593,250.02. This trade represents a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 175,000 shares of company stock valued at $14,444,745 in the last quarter. 0.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Marvell Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MRVL. True Wealth Design LLC boosted its position 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 purchasing an additional 326 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of Marvell Technology during the 2nd quarter valued at $32,000. Quarry LP bought a new position in Marvell Technology in the 2nd quarter worth $32,000. Whittier Trust Co. increased its stake in Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares in the last quarter. Finally, Goodman Advisory Group LLC bought a new stake in Marvell Technology during the third quarter valued at about $37,000. 83.51% of the stock is 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.