Marvell Technology (NASDAQ:MRVL) Given New $80.00 Price Target at Stifel Nicolaus

Marvell Technology (NASDAQ:MRVL) had its target price cut by research analysts at Stifel Nicolaus from $115.00 to $80.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 54.74% from the company’s current price.

Several other equities research analysts have also issued reports on MRVL. Loop Capital upgraded Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Thursday, March 6th. The Goldman Sachs Group lifted their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Benchmark reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Marvell Technology in a research note on Thursday, March 6th. Finally, Melius assumed coverage on shares of Marvell Technology in a report on Monday, January 27th. They issued a “buy” rating and a $188.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average price target of $116.41.

Marvell Technology Trading Down 0.4 %

Marvell Technology stock opened at $51.70 on Thursday. Marvell Technology has a 12 month low of $47.09 and a 12 month high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock has a market cap of $44.78 billion, a P/E ratio of -30.41, a P/E/G ratio of 1.61 and a beta of 1.78. The company’s fifty day simple moving average is $73.72 and its 200-day simple moving average is $91.24.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the completion of the transaction, the chief financial officer now owns 113,592 shares in the company, valued at approximately $7,818,537.36. This represents a 1.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the sale, the chief accounting officer now owns 31,100 shares in the company, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,930 shares of company stock valued at $1,999,038. 0.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. raised its holdings in shares of Marvell Technology by 30.1% in the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock worth $1,784,649,000 after buying an additional 3,737,705 shares in the last quarter. Janus Henderson Group PLC raised its stake in Marvell Technology by 6.9% during the fourth quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company’s stock worth $1,462,274,000 after acquiring an additional 857,087 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Marvell Technology by 43.1% during the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock valued at $1,374,252,000 after acquiring an additional 3,747,982 shares during the period. Geode Capital Management LLC boosted its stake in shares of Marvell Technology by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock valued at $1,263,755,000 after purchasing an additional 80,005 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Marvell Technology in the 4th quarter worth about $1,138,354,000. Institutional investors and hedge funds 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.