Marvell Technology (NASDAQ:MRVL) Stock Price Expected to Rise, TD Cowen Analyst Says

Marvell Technology (NASDAQ:MRVL) had its price objective upped by equities research analysts at TD Cowen from $90.00 to $125.00 in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s price objective would suggest a potential upside of 30.33% from the company’s previous close.

MRVL has been the topic of a number of other reports. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Monday. Roth Mkm reaffirmed a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Piper Sandler reaffirmed an “overweight” rating and set a $100.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Finally, Morgan Stanley boosted their target price on Marvell Technology from $82.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.96.

Marvell Technology Stock Down 1.0 %

Shares of NASDAQ MRVL opened at $95.91 on Wednesday. The business has a 50-day moving average price of $83.50 and a 200 day moving average price of $74.73. 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 has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. Marvell Technology has a 52-week low of $50.35 and a 52-week high of $98.72.

Insider Activity

In other news, insider Muhammad Raghib Hussain sold 150,000 shares of Marvell Technology stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ford Tamer sold 92,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $74.16, for a total value of $6,822,720.00. Following the transaction, the director now owns 351,193 shares in the company, valued at $26,044,472.88. This trade represents a 20.76 % 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 valued at $20,899,260 over the last 90 days. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MRVL. Mather Group LLC. raised its holdings in shares of Marvell Technology by 18.8% in the 2nd quarter. Mather Group LLC. now owns 5,270 shares of the semiconductor company’s stock worth $374,000 after purchasing 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 worth $1,493,000 after purchasing an additional 5,601 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings 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 valued at $688,000 after buying an additional 1,105 shares during the period. Csenge Advisory Group lifted its position in Marvell Technology by 30.6% during the second 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 grew its stake in Marvell Technology by 5.1% during the second quarter. Register Financial Advisors LLC now owns 8,205 shares of the semiconductor company’s stock worth $574,000 after buying an additional 401 shares during the period. 83.51% of the stock is owned by hedge funds and other 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.