Needham & Company LLC Lowers Marvell Technology (NASDAQ:MRVL) Price Target to $100.00

Marvell Technology (NASDAQ:MRVL) had its price target decreased by stock analysts at Needham & Company LLC from $120.00 to $100.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective points to a potential upside of 10.94% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Craig Hallum boosted their price objective on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Citigroup boosted their price target on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Barclays reaffirmed an “overweight” rating on shares of Marvell Technology in a research report on Friday, February 14th. Bank of America raised their price target on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Loop Capital raised Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Thursday. Three 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.60.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $90.14 on Thursday. Marvell Technology has a 52 week low of $53.19 and a 52 week high of $127.48. The firm has a 50 day moving average of $110.52 and a two-hundred day moving average of $93.84. 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 stock has a market capitalization of $78.00 billion, a PE ratio of -53.02, a P/E/G ratio of 1.61 and a beta of 1.40.

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value 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 approximately $13,807,097.50. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the transaction, the chief operating officer now owns 87,931 shares of the company’s stock, valued at $9,351,461.85. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Marvell Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. True Wealth Design LLC boosted its stake in Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying an additional 326 shares during the last quarter. ORG Partners LLC lifted its holdings in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Marvell Technology in the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new stake in Marvell Technology in the fourth quarter valued at approximately $27,000. Finally, Kieckhefer Group LLC acquired a new position in Marvell Technology during the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

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.