Marvell Technology (NASDAQ:MRVL) Price Target Lowered to $95.00 at TD Cowen

Marvell Technology (NASDAQ:MRVL) had its target price reduced by stock analysts at TD Cowen from $125.00 to $95.00 in a report issued on Thursday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s target price would suggest a potential upside of 5.39% from the stock’s current price.

Several other analysts have also recently weighed in on the company. Summit Insights cut Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday. Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Thursday. Benchmark reissued a “buy” rating and issued a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, Craig Hallum upped their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $126.40.

Marvell Technology Trading Up 2.0 %

Marvell Technology stock opened at $90.14 on Thursday. The stock has a market cap of $78.00 billion, a P/E ratio of -53.02, a PEG ratio of 1.61 and a beta of 1.40. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The firm’s fifty day moving average price is $110.52 and its 200-day moving average price is $93.84. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Insider Buying and Selling

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the sale, the chief operating officer now owns 87,931 shares in the company, valued at approximately $9,351,461.85. This trade represents a 6.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares in the company, valued at approximately $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock valued at $4,330,980 over the last ninety days. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Marvell Technology

Several institutional investors and hedge funds have recently modified their holdings of the stock. Intrepid Financial Planning Group LLC raised its stake in Marvell Technology by 0.3% in the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock worth $2,860,000 after buying an additional 90 shares in the last quarter. PDS Planning Inc grew its holdings in shares of Marvell Technology by 3.3% during the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock worth $319,000 after acquiring an additional 92 shares during the period. Lodestone Wealth Management LLC grew its holdings in shares of Marvell Technology by 2.0% during the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock worth $514,000 after acquiring an additional 93 shares during the period. Valley National Advisers Inc. raised its position in shares of Marvell Technology by 0.4% in the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after acquiring an additional 96 shares in the last quarter. Finally, Private Trust Co. NA lifted its stake in shares of Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock valued at $414,000 after purchasing an additional 97 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.