Marvell Technology (NASDAQ:MRVL) Stock Price Up 1.3% – What’s Next?

Marvell Technology, Inc. (NASDAQ:MRVL) was up 1.3% during trading on Friday . The stock traded as high as $70.76 and last traded at $69.65. Approximately 2,638,029 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 12,686,427 shares. The stock had previously closed at $68.76.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MRVL shares. Oppenheimer boosted their price target on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price target on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Craig Hallum boosted their price target on Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Melius started coverage on Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 price target for the company. Finally, KeyCorp lowered their price target on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $120.44.

Marvell Technology Stock Down 0.0 %

The business has a 50 day moving average of $103.79 and a 200 day moving average of $93.77. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The firm has a market capitalization of $59.48 billion, a price-to-earnings ratio of -40.44, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Insider Activity at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the completion of the transaction, the chief operating officer now directly owns 87,931 shares in the company, valued at $9,351,461.85. This represents a 6.39 % 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, Director Brad W. Buss acquired 3,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were bought at an average price of $69.00 per share, with a total value of $207,000.00. Following the completion of the purchase, the director now directly owns 87,113 shares of the company’s stock, valued at approximately $6,010,797. This represents a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Zweig DiMenna Associates LLC raised its stake in Marvell Technology by 6.3% during the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after acquiring an additional 12,700 shares in the last quarter. Berbice Capital Management LLC bought a new stake in shares of Marvell Technology during the fourth quarter worth $637,000. RFG Advisory LLC grew its holdings in shares of Marvell Technology by 6.2% during the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after purchasing an additional 2,507 shares during the last quarter. Braun Stacey Associates Inc. bought a new stake in shares of Marvell Technology during the third quarter worth $16,435,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after purchasing an additional 66,654 shares during the last quarter. 83.51% of the stock is currently 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.