TD Cowen Issues Positive Forecast for Marvell Technology (NASDAQ:MRVL) Stock Price

Marvell Technology (NASDAQ:MRVL) had its target price raised by analysts at TD Cowen from $90.00 to $125.00 in a research report issued on Wednesday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s target price indicates a potential upside of 10.26% from the company’s current price.

A number of other brokerages have also weighed in on MRVL. Stifel Nicolaus reiterated a “buy” rating and issued a $125.00 price objective (up from $114.00) on shares of Marvell Technology in a research report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. Evercore ISI boosted their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday. Barclays raised their target price on shares of Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Bank of America boosted 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. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus price target of $119.04.

Marvell Technology Stock Performance

Marvell Technology stock opened at $113.37 on Wednesday. Marvell Technology has a 1-year low of $50.35 and a 1-year high of $119.88. The firm has a market cap of $100.47 billion, a P/E ratio of -66.69, a P/E/G ratio of 4.15 and a beta of 1.46. 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 firm has a 50-day moving average of $85.24 and a 200-day moving average of $75.30.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $73.87, for a total transaction of $110,805.00. Following the completion of the sale, the chief financial officer now directly owns 111,753 shares in the company, valued at approximately $8,255,194.11. The trade was a 1.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ford Tamer sold 92,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $74.16, for a total value of $6,822,720.00. Following the completion of the transaction, the director now owns 351,193 shares in the company, valued at approximately $26,044,472.88. This trade represents a 20.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 267,000 shares of company stock valued at $20,899,260 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Davidson Kempner Capital Management LP lifted its position in Marvell Technology by 26.5% during the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock valued at $17,482,000 after purchasing an additional 52,365 shares in the last quarter. Braun Stacey Associates Inc. bought a new position in shares of Marvell Technology in the third quarter worth about $16,435,000. Charles Schwab Investment Management Inc. lifted its position in shares of Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after buying an additional 66,654 shares in the last quarter. Diversified Trust Co bought a new position in shares of Marvell Technology during the 2nd quarter valued at approximately $932,000. Finally, Silicon Valley Capital Partners increased its holdings in Marvell Technology by 254.6% in the 3rd quarter. Silicon Valley Capital Partners now owns 32,978 shares of the semiconductor company’s stock worth $2,378,000 after acquiring an additional 23,678 shares in the last quarter. 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.