Rosenblatt Securities Reaffirms Buy Rating for Marvell Technology (NASDAQ:MRVL)

Marvell Technology (NASDAQ:MRVL)‘s stock had its “buy” rating reiterated by equities research analysts at Rosenblatt Securities in a report issued on Thursday,Benzinga reports. They currently have a $140.00 price objective on the semiconductor company’s stock. Rosenblatt Securities’ target price points to a potential upside of 55.31% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Needham & Company LLC upped their target price on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group upped their price objective on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Morgan Stanley reiterated an “equal weight” rating on shares of Marvell Technology in a research report on Friday, February 14th. Bank of America upped their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus lifted their price target on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average target price of $125.60.

Marvell Technology Stock Performance

Shares of Marvell Technology stock opened at $90.14 on Thursday. The company’s 50 day moving average price is $110.52 and its two-hundred day moving average price is $93.84. The firm has a market capitalization of $78.00 billion, a P/E ratio of -53.02, a P/E/G ratio of 1.61 and a beta of 1.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two week high of $127.48.

Insider Buying and Selling

In other news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the completion of the transaction, the chief operating officer now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock worth $4,330,980 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. Castle Rock Wealth Management LLC boosted its position in shares of Marvell Technology by 165.8% during the fourth quarter. Castle Rock Wealth Management LLC now owns 16,283 shares of the semiconductor company’s stock valued at $1,734,000 after buying an additional 10,157 shares during the last quarter. Total Wealth Planning & Management Inc. purchased a new position in Marvell Technology during the 4th quarter worth $824,000. Menard Financial Group LLC bought a new stake in shares of Marvell Technology in the 4th quarter worth $669,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Marvell Technology in the 4th quarter worth $105,450,000. Finally, Chelsea Counsel Co. bought a new position in shares of Marvell Technology during the fourth quarter valued at about $44,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

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.