Morgan Stanley Forecasts Strong Price Appreciation for Marvell Technology (NASDAQ:MRVL) Stock

Marvell Technology (NASDAQ:MRVL) had its target price increased by Morgan Stanley from $102.00 to $120.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective suggests a potential upside of 7.24% from the stock’s previous close.

Several other analysts have also issued reports on the stock. Roth Mkm reissued a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. Citigroup increased their target price on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. B. Riley lifted their price target on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. UBS Group increased their price objective on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Evercore ISI lifted their target price on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $119.76.

Marvell Technology Trading Up 2.6 %

Shares of MRVL opened at $111.90 on Friday. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. The business has a 50-day moving average of $93.92 and a 200 day moving average of $78.26. The firm has a market cap of $96.83 billion, a P/E ratio of -65.82, a price-to-earnings-growth ratio of 4.03 and a beta of 1.46. 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 Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $120,750.00. Following the completion of the sale, the chief financial officer now owns 110,253 shares of the company’s stock, valued at approximately $8,875,366.50. The trade was a 1.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $12,075,000.00. Following the sale, the insider now owns 694,487 shares of the company’s stock, valued at $55,906,203.50. This represents a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 175,000 shares of company stock valued at $14,444,745. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Several institutional investors have recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its holdings in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Marvell Technology during the 2nd quarter valued at approximately $32,000. Quarry LP purchased a new stake in Marvell Technology in the 2nd quarter worth approximately $32,000. Whittier Trust Co. grew its position in shares of Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new position in shares of Marvell Technology during the third quarter valued at approximately $37,000. Hedge funds and other institutional investors 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.