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

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price rose 1.3% during trading on Friday . The company traded as high as $70.76 and last traded at $69.65. Approximately 2,638,029 shares traded hands 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 Analysts Forecast Growth

MRVL has been the subject of a number of research reports. Barclays decreased their price objective on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. UBS Group lifted their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Benchmark reissued a “buy” rating and set a $135.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Needham & Company LLC reduced their price target on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, Summit Insights downgraded shares of Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Trading Down 0.0 %

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 firm’s 50-day simple moving average is $103.79 and its 200 day simple moving average is $93.77. The stock has a market capitalization of $59.48 billion, a P/E ratio of -40.44, a PEG ratio of 1.61 and a beta of 1.42.

Insiders Place Their Bets

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the sale, the chief operating officer now owns 87,931 shares in the company, valued at approximately $9,351,461.85. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brad W. Buss acquired 3,000 shares of the business’s stock in a transaction on Friday, March 7th. The shares were bought at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the acquisition, the director now owns 87,113 shares in the company, valued at approximately $6,010,797. This trade represents a 3.57 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marvell Technology

Large investors have recently made changes to their positions in the business. True Wealth Design LLC increased its holdings in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the period. ORG Partners LLC increased its holdings in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares during the period. Centricity Wealth Management LLC acquired a new position in shares of Marvell Technology in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology in the 4th quarter valued at about $27,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Marvell Technology in the 4th quarter valued at about $33,000. 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.