Marvell Technology’s (MRVL) “Overweight” Rating Reaffirmed at Piper Sandler

Marvell Technology (NASDAQ:MRVL)‘s stock had its “overweight” rating restated by Piper Sandler in a research note issued on Wednesday,Benzinga reports. They currently have a $120.00 price objective on the semiconductor company’s stock, up from their prior price objective of $100.00. Piper Sandler’s price objective suggests a potential upside of 25.12% from the company’s previous close.

MRVL has been the subject of a number of other reports. Benchmark reissued a “buy” rating and issued a $135.00 price target (up from $115.00) on shares of Marvell Technology in a research note on Wednesday. Bank of America raised their target price on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company upped their price target on Marvell Technology from $90.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Oppenheimer lifted their price target on shares of Marvell Technology from $90.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Finally, B. Riley boosted their price target on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $108.83.

Marvell Technology Stock Down 1.0 %

Shares of Marvell Technology stock opened at $95.91 on Wednesday. The company’s fifty day simple moving average is $83.50 and its two-hundred day simple moving average is $74.73. Marvell Technology has a 12-month low of $50.35 and a 12-month high of $98.72. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. The company has a market cap of $85.00 billion, a P/E ratio of -86.41, a PEG ratio of 4.19 and a beta of 1.46.

Insiders Place Their Bets

In related news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the sale, the executive vice president now owns 109,244 shares in the company, valued at approximately $8,823,637.88. This trade represents a 5.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the transaction, the chief financial officer now directly owns 114,211 shares in the company, valued at approximately $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 267,000 shares of company stock worth $20,899,260. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Several institutional investors have recently bought and sold shares of MRVL. Mather Group LLC. boosted its holdings in shares of Marvell Technology by 18.8% during the 2nd quarter. Mather Group LLC. now owns 5,270 shares of the semiconductor company’s stock valued at $374,000 after purchasing an additional 834 shares during the last quarter. CWM LLC boosted its stake in Marvell Technology by 35.5% during the second quarter. CWM LLC now owns 21,362 shares of the semiconductor company’s stock valued at $1,493,000 after buying an additional 5,601 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in Marvell Technology by 12.7% during 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 last quarter. Csenge Advisory Group grew its holdings in Marvell Technology by 30.6% during the 2nd 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 increased its stake in Marvell Technology by 5.1% in the 2nd quarter. Register Financial Advisors LLC now owns 8,205 shares of the semiconductor company’s stock worth $574,000 after acquiring an additional 401 shares during the last quarter. 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.